Chevron (NYSE:CVX) Price Target Cut to $158.00 by Analysts at Barclays

Chevron (NYSE:CVX) had its price objective trimmed by Barclays from $160.00 to $158.00 in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has an equal weight rating on the oil and gas company’s stock.

A number of other brokerages have also commented on CVX. UBS Group increased their price target on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research note on Thursday, July 31st. Finally, Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $165.15.

Chevron Price Performance

Shares of NYSE:CVX opened at $154.92 on Tuesday. The company’s fifty day moving average price is $156.15 and its 200-day moving average price is $148.84. The firm has a market capitalization of $267.70 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.99 and a beta of 0.84. Chevron has a one year low of $132.04 and a one year high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.55 EPS. On average, equities research analysts anticipate that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.4%. Chevron’s dividend payout ratio is presently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. TCP Asset Management LLC raised its holdings in Chevron by 21.2% in the 3rd quarter. TCP Asset Management LLC now owns 4,470 shares of the oil and gas company’s stock worth $694,000 after purchasing an additional 783 shares in the last quarter. Trinity Financial Advisors LLC increased its stake in Chevron by 16.3% during the 3rd quarter. Trinity Financial Advisors LLC now owns 1,724 shares of the oil and gas company’s stock valued at $268,000 after purchasing an additional 242 shares in the last quarter. Montecito Bank & Trust bought a new stake in Chevron during the 3rd quarter valued at about $4,711,000. McLean Asset Management Corp increased its stake in Chevron by 8.0% during the 3rd quarter. McLean Asset Management Corp now owns 2,317 shares of the oil and gas company’s stock valued at $357,000 after purchasing an additional 172 shares in the last quarter. Finally, Acropolis Investment Management LLC increased its stake in Chevron by 13.1% during the 3rd quarter. Acropolis Investment Management LLC now owns 18,026 shares of the oil and gas company’s stock valued at $2,581,000 after purchasing an additional 2,081 shares in the last quarter. 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.