Analysts Set Chevron Corporation (NYSE:CVX) Target Price at $166.00

Chevron Corporation (NYSE:CVX) has earned an average recommendation of “Hold” from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $166.00.

CVX has been the subject of a number of recent research reports. Mizuho boosted their price objective on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, December 12th. Scotiabank increased their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. Morgan Stanley lifted their price objective on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Finally, Piper Sandler reduced their price objective on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th.

Chevron Stock Up 0.1%

CVX stock opened at $150.74 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The stock’s 50 day simple moving average is $152.23 and its 200 day simple moving average is $152.73. The company has a market cap of $303.51 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 8.90 and a beta of 0.68.

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

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC lifted its position in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. Vanguard Group Inc. lifted its holdings in Chevron by 17.9% in the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company’s stock worth $28,540,753,000 after buying an additional 27,961,463 shares during the period. Norges Bank bought a new stake in Chevron during the 2nd quarter valued at approximately $2,721,477,000. State Street Corp boosted its position in Chevron by 9.1% during the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Finally, Primecap Management Co. CA purchased a new position in shares of Chevron during the 3rd quarter worth approximately $988,083,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Company Profile

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.