Analysts Set Chevron Corporation (NYSE:CVX) Price Target at $165.25

by · The Markets Daily

Chevron Corporation (NYSE:CVX – Get Free Report) has received an average rating of “Hold” from the twenty-three analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $165.25.

A number of brokerages recently issued reports on CVX. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Scotiabank upped their price target 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 initiated coverage on Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price target for the company.

View Our Latest Analysis on CVX

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several large investors have recently modified their holdings of CVX. Ignite Planners LLC increased its position in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its position in shares of Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after buying an additional 495 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after buying an additional 675 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Chevron by 0.3% in the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock valued at $95,231,000 after buying an additional 1,755 shares in the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of Chevron by 33.8% in the first quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after buying an additional 318 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

Shares of CVX opened at $157.58 on Tuesday. The stock has a 50 day moving average price of $156.07 and a 200 day moving average price of $149.11. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $272.30 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. Chevron has a 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 earnings per share. Research analysts predict that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is presently 88.03%.

Chevron Company Profile

(Get Free Report)

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.

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