Chevron (NYSE:CVX) Price Target Raised to $196.00

Chevron (NYSE:CVX) had its price target upped by Wells Fargo & Company from $190.00 to $196.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

A number of other analysts have also recently issued reports on the stock. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. UBS Group raised their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley upped their target price on Chevron from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America lifted their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Finally, TD Cowen upped their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average target price of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $157.61 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $155.26 and its two-hundred day moving average price is $150.40. The company has a market cap of $317.35 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the company posted $2.48 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Chevron will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is currently 96.20%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.21% of the company’s stock.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently modified their holdings of the business. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Chevron by 17.9% during the 3rd quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock valued at $28,540,753,000 after buying an additional 27,961,463 shares during the period. Norges Bank purchased a new position in shares of Chevron in the 2nd quarter worth $2,721,477,000. GQG Partners LLC bought a new stake in shares of Chevron in the first quarter worth $1,466,751,000. Finally, Nuveen LLC purchased a new stake in Chevron during the first quarter valued at $1,362,232,000. Institutional investors own 72.42% of the company’s stock.

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.