Chevron Co. (NYSE:CVX) Given Average Recommendation of “Moderate Buy” by Brokerages

Chevron Co. (NYSE:CVX) has received an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $174.13.

A number of equities analysts recently commented on CVX shares. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several institutional investors have recently modified their holdings of CVX. Pettinga Financial Advisors LLC raised its stake in shares of Chevron by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock worth $438,000 after purchasing an additional 272 shares in the last quarter. United Bank raised its stake in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares in the last quarter. ING Groep NV bought a new stake in shares of Chevron during the 3rd quarter worth approximately $732,000. Kinsale Capital Group Inc. raised its stake in shares of Chevron by 1.2% during the 3rd quarter. Kinsale Capital Group Inc. now owns 37,143 shares of the oil and gas company’s stock worth $5,470,000 after purchasing an additional 425 shares in the last quarter. Finally, Accredited Investors Inc. raised its stake in shares of Chevron by 2.7% during the 3rd quarter. Accredited Investors Inc. now owns 5,380 shares of the oil and gas company’s stock worth $792,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $157.10 on Monday. The company has a 50 day simple moving average of $155.03 and a 200-day simple moving average of $152.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. Chevron has a 52-week low of $135.37 and a 52-week high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company posted $3.45 earnings per share. Equities research analysts predict that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

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.