Chevron (NYSE:CVX) Price Target Raised to $194.00

Chevron (NYSE:CVX) had its price target boosted by UBS Group from $192.00 to $194.00 in a report issued on Monday,Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

CVX has been the topic of several other reports. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Truist Financial raised their price objective on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday. Wells Fargo & Company reduced their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday, October 8th. Finally, Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Down 0.6 %

Shares of NYSE CVX opened at $156.73 on Monday. Chevron has a 1 year low of $135.37 and a 1 year high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $286.65 billion, a P/E ratio of 17.22, a PEG ratio of 3.43 and a beta of 1.09. The firm has a 50-day simple moving average of $147.43 and a two-hundred day simple moving average of $152.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the previous year, the business posted $3.05 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts anticipate that Chevron will post 10.65 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. bought a new position in Chevron during the first quarter worth $566,000. Main Street Research LLC raised its holdings in shares of Chevron by 7.0% during the 1st quarter. Main Street Research LLC now owns 10,897 shares of the oil and gas company’s stock valued at $1,719,000 after purchasing an additional 712 shares in the last quarter. Moloney Securities Asset Management LLC increased its holdings in shares of Chevron by 3.4% during the 1st quarter. Moloney Securities Asset Management LLC now owns 26,194 shares of the oil and gas company’s stock valued at $4,132,000 after acquiring an additional 873 shares during the last quarter. Lewis Asset Management LLC grew its holdings in Chevron by 5.3% in the 1st quarter. Lewis Asset Management LLC now owns 2,155 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 109 shares during the last quarter. Finally, Crown Wealth Group LLC grew its stake in shares of Chevron by 52.2% in the first quarter. Crown Wealth Group LLC now owns 2,845 shares of the oil and gas company’s stock worth $449,000 after acquiring an additional 976 shares during the last quarter. Hedge funds and other 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.