Chevron Co. (NYSE:CVX – Get Free Report) shares rose 1.9% during mid-day trading on Monday after Truist Financial raised their price target on the stock from $160.00 to $164.00. Truist Financial currently has a hold rating on the stock. Chevron traded as high as $157.35 and last traded at $156.11. Approximately 3,227,426 shares changed hands during trading, a decline of 53% from the average daily volume of 6,871,154 shares. The stock had previously closed at $153.14.
Several other equities analysts have also commented on the stock. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Wells Fargo & Company upped their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Finally, UBS Group increased their price target on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.87.
Check Out Our Latest Stock Report on CVX
Insider Transactions at Chevron
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in CVX. Marietta Wealth Management LLC boosted its holdings in shares of Chevron by 10.9% in the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares in the last quarter. Leo Wealth LLC increased its position in shares of Chevron by 19.6% during the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. RPG Investment Advisory LLC lifted its holdings in shares of Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after purchasing an additional 3,933 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. 72.42% of the stock is owned by institutional investors.
Chevron Trading Up 1.0 %
The company has a 50 day moving average of $153.78 and a two-hundred day moving average of $150.95. The stock has a market capitalization of $281.87 billion, a PE ratio of 17.24, a P/E/G ratio of 2.93 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period last year, the firm posted $3.05 EPS. Chevron’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Chevron Co. will post 10.5 EPS for the current year.
Chevron Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s payout ratio is 71.65%.
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.
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