Brokerages Set Chevron Co. (NYSE:CVX) Target Price at $175.27

Shares of Chevron Co. (NYSE:CVX) have been given an average recommendation of “Moderate Buy” by the seventeen brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $175.27.

A number of equities research analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective on the stock. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th.

Insider Activity

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Tacita Capital Inc increased its stake in Chevron by 16.7% during the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 65 shares during the period. Wallace Capital Management Inc. increased its stake in Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the period. Cyndeo Wealth Partners LLC increased its stake in Chevron by 0.3% during the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC increased its stake in shares of Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock worth $1,330,000 after buying an additional 67 shares during the period. Finally, Jag Capital Management LLC increased its stake in shares of Chevron by 5.2% during the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock worth $201,000 after buying an additional 67 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Price Performance

Shares of Chevron stock opened at $156.24 on Friday. The company’s fifty day simple moving average is $153.74 and its two-hundred day simple moving average is $151.12. The firm has a market cap of $280.78 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 EPS. As a group, equities analysts expect that Chevron will post 10.18 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron’s payout ratio is 71.65%.

Chevron Company Profile

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.