Chevron (NYSE:CVX) Price Target Raised to $206.00

Chevron (NYSE:CVX) had its price target upped by Mizuho from $204.00 to $206.00 in a research report report published on Friday, Marketbeat Ratings reports. Mizuho currently has an outperform rating on the oil and gas company’s stock.

Several other analysts have also recently issued reports on CVX. Scotiabank increased their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Zacks Research lowered shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Wells Fargo & Company lifted their price objective on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. UBS Group restated a “buy” rating on shares of Chevron in a research report on Monday, December 1st. Finally, Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $166.00.

Chevron Stock Performance

CVX opened at $149.95 on Friday. The firm has a market cap of $301.93 billion, a P/E ratio of 21.09, a PEG ratio of 8.91 and a beta of 0.68. Chevron has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day simple moving average of $152.74 and a two-hundred day simple moving average of $152.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the company earned $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts forecast that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

Several large investors have recently added to or reduced their stakes in CVX. Vishria Bird Financial Group LLC raised its holdings in Chevron by 1.2% during the 3rd quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after buying an additional 65 shares during the period. Nexus Investment Management ULC increased its position in Chevron by 0.9% during the third quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after acquiring an additional 65 shares during the last quarter. Scott & Selber Inc. raised its stake in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock valued at $2,079,000 after acquiring an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC lifted its holdings in shares of Chevron by 3.0% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. boosted its stake in shares of Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after purchasing an additional 66 shares during the period. 72.42% of the stock is 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.