Chevron Corporation (NYSE:CVX) Receives $166.55 Consensus Price Target from Brokerages

Shares of Chevron Corporation (NYSE:CVX) have received an average recommendation of “Hold” from the twenty-three ratings firms that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $165.5789.

CVX has been the topic of several research analyst reports. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. UBS Group upped their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Morgan Stanley raised their price target on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Scotiabank lifted their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, November 14th.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Chevron

Several hedge funds have recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter worth $31,000. Quaker Wealth Management LLC boosted its position in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares in the last quarter. Decker Retirement Planning Inc. purchased a new position in Chevron during the 3rd quarter worth $34,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in Chevron by 86.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 118 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Trading Up 0.8%

Shares of CVX opened at $149.72 on Friday. The firm has a market capitalization of $301.47 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 4.40 and a beta of 0.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50-day moving average of $154.25 and a 200 day moving average of $151.10.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.48 EPS. On average, research analysts expect that Chevron will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is currently 96.20%.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.