Weekly Analysts’ Ratings Updates for Chevron (CVX)

A number of firms have modified their ratings and price targets on shares of Chevron (NYSE: CVX) recently:

• 11/14/2023 – Chevron had its price target lowered by analysts at Mizuho from $215.00 to $195.00. They now have a “buy” rating on the stock.
• 11/2/2023 – Chevron was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $182.00 price target on the stock, down previously from $184.00.
• 10/30/2023 – Chevron had its price target lowered by analysts at Raymond James from $200.00 to $175.00. They now have an “outperform” rating on the stock.
• 10/30/2023 – Chevron was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $200.00 price target on the stock, up previously from $190.00.
• 10/24/2023 – Chevron had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $180.00 price target on the stock.
• 10/24/2023 – Chevron had its price target lowered by analysts at Truist Financial Co. from $175.00 to $169.00. They now have a “hold” rating on the stock.
• 10/17/2023 – Chevron is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $184.00 price target on the stock.
• 10/17/2023 – Chevron had its price target lowered by analysts at Morgan Stanley from $203.00 to $201.00. They now have an “equal weight” rating on the stock.
• 10/12/2023 – Chevron was upgraded by analysts at BNP Paribas from a “neutral” rating to an “outperform” rating. They now have a $190.00 price target on the stock.
• 10/5/2023 – Chevron is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 10/4/2023 – Chevron had its price target raised by analysts at UBS Group AG from $209.00 to $210.00. They now have a “buy” rating on the stock.
• 10/2/2023 – Chevron had its price target raised by analysts at Morgan Stanley from $198.00 to $203.00. They now have an “equal weight” rating on the stock.
• 9/27/2023 – Chevron had its price target raised by analysts at Bank of America Co. from $185.00 to $190.00.
• 9/18/2023 – Chevron had its price target raised by analysts at Mizuho from $209.00 to $215.00. They now have a “buy” rating on the stock.

Chevron Stock Performance

Shares of NYSE CVX opened at $145.06 on Wednesday. The company’s fifty day moving average price is $160.05 and its 200 day moving average price is $158.59. Chevron Co. has a 1 year low of $141.73 and a 1 year high of $188.43. The company has a market capitalization of $273.84 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 0.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.97 and a current ratio of 1.25.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.65). The company had revenue of $54.08 billion for the quarter, compared to analysts’ expectations of $51.41 billion. Chevron had a net margin of 12.11% and a return on equity of 16.15%. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same period in the previous year, the business earned $5.56 earnings per share. On average, research analysts predict that Chevron Co. will post 13.59 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Thursday, November 16th. Chevron’s dividend payout ratio is presently 44.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Berkeley Capital Partners LLC boosted its position in shares of Chevron by 13.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after buying an additional 1,661 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Chevron by 13.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock worth $12,582,000 after buying an additional 9,477 shares in the last quarter. Kooman & Associates boosted its holdings in Chevron by 11.2% in the second quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 158 shares during the period. Reuter James Wealth Management LLC boosted its holdings in Chevron by 30.6% in the second quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock worth $1,048,000 after purchasing an additional 1,561 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in Chevron by 0.9% in the second quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock worth $1,226,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.