Chevron Co. (NYSE:CVX) Receives $183.82 Average PT from Analysts

Shares of Chevron Co. (NYSE:CVX) have received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $183.82.

Several research firms have recently issued reports on CVX. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial lowered their price target on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada cut their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Barclays dropped their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th.

Institutional Trading of Chevron

A number of hedge funds have recently bought and sold shares of CVX. Norges Bank purchased a new position in Chevron during the fourth quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc boosted its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors grew its holdings in shares of Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.4 %

Shares of NYSE:CVX opened at $147.95 on Thursday. The company has a market capitalization of $272.67 billion, a PE ratio of 13.61, a PEG ratio of 2.46 and a beta of 1.10. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70. The business has a 50 day moving average of $152.27 and a two-hundred day moving average of $155.61. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 earnings per share. As a group, analysts forecast that Chevron will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s payout ratio is presently 59.98%.

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.