Chevron (NYSE:CVX) Given New $200.00 Price Target at TD Cowen

Chevron (NYSE:CVX) had its price target increased by TD Cowen from $197.00 to $200.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. They currently have a hold rating on the oil and gas company’s stock.

Several other equities research analysts also recently issued reports on CVX. The Goldman Sachs Group reissued a “buy” rating and issued a $216.00 price objective on shares of Chevron in a research note on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Scotiabank upped their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Tudor Pickering upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, April 9th. Finally, Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.62.

Chevron Price Performance

NYSE CVX opened at $193.04 on Wednesday. Chevron has a 52 week low of $146.49 and a 52 week high of $214.71. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $384.45 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 0.67 and a beta of 0.50. The company has a 50-day moving average price of $181.88 and a two-hundred day moving average price of $183.48.

Chevron (NYSE:CVX) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter last year, the company earned $2.18 EPS. Chevron’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that Chevron will post 14.78 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Hedge funds have recently added to or reduced their stakes in the company. First Community Trust NA increased its position in Chevron by 1.6% in the second quarter. First Community Trust NA now owns 8,066 shares of the oil and gas company’s stock worth $1,337,000 after purchasing an additional 129 shares during the period. Regent Peak Wealth Advisors LLC increased its stake in shares of Chevron by 7.7% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 4,883 shares of the oil and gas company’s stock valued at $809,000 after acquiring an additional 350 shares during the last quarter. Buska Wealth Management LLC raised its holdings in Chevron by 8.6% in the second quarter. Buska Wealth Management LLC now owns 1,231 shares of the oil and gas company’s stock worth $204,000 after purchasing an additional 97 shares during the period. Accel Wealth Management raised its stake in Chevron by 3.0% during the 2nd quarter. Accel Wealth Management now owns 6,545 shares of the oil and gas company’s stock worth $1,085,000 after buying an additional 188 shares during the period. Finally, Hudson Value Partners LLC lifted its holdings in shares of Chevron by 105.6% during the 2nd quarter. Hudson Value Partners LLC now owns 6,940 shares of the oil and gas company’s stock valued at $1,150,000 after purchasing an additional 3,565 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: TD Cowen lifted its price target on Chevron to $200 from $197, signaling continued analyst confidence despite keeping a hold rating. TD Cowen price target update
• Positive Sentiment: Chevron is being highlighted in dividend-focused articles as a steady income name, which may support demand from long-term investors. Dividend Aristocrats article
• Positive Sentiment: Rising oil prices amid geopolitical uncertainty are favorable for Chevron’s upstream business and could improve near-term earnings. Oil prices jump article
• Neutral Sentiment: Chevron shut production at a U.S. Gulf platform ahead of a tropical storm, a precautionary move that could limit output temporarily but is not necessarily a lasting operational issue. Production shutdown article
• Neutral Sentiment: Investors are awaiting Chevron’s second-quarter earnings, with expectations for a strong profit rebound; the report could become a major stock catalyst. Earnings preview article

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.