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

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

Other equities research analysts have also issued reports about the stock. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Up 2.8 %

Shares of CVX opened at $157.65 on Monday. The stock has a market capitalization of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 and a beta of 1.09. Chevron has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a fifty day moving average of $147.43 and a 200-day moving average of $152.90.

Chevron (NYSE:CVX) last posted its 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. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the company earned $3.05 earnings per share. As a group, sell-side analysts anticipate that Chevron will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Institutional Trading of Chevron

Several large investors have recently modified their holdings of the stock. Rational Advisors LLC acquired a new stake in Chevron in the third quarter worth $29,000. Anfield Capital Management LLC increased its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory acquired a new position in Chevron during the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the third quarter worth approximately $47,000. Institutional investors and hedge funds 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.