Chevron (NYSE:CVX) Stock Price Expected to Rise, Barclays Analyst Says

Chevron (NYSE:CVX) had its price target hoisted by Barclays from $168.00 to $174.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

Several other brokerages have also issued reports on CVX. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Sanford C. Bernstein cut 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. Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday, September 30th. Bank of America initiated coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Down 0.6 %

CVX opened at $156.73 on Monday. The stock has a market capitalization of $286.65 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 3.43 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a 50-day simple moving average of $147.43 and a 200 day simple moving average of $152.90.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 EPS. Analysts predict that Chevron will post 10.65 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Institutional Trading of Chevron

Several institutional investors have recently added to or reduced their stakes in CVX. Rational Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth about $29,000. Anfield Capital Management LLC increased its holdings in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. Krane Funds Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $47,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $47,000. 72.42% of the stock is currently owned by institutional investors.

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.