Chevron (NYSE:CVX) Price Target Raised to $209.00

Chevron (NYSE:CVX) had its price objective lifted by Sanford C. Bernstein from $204.00 to $209.00 in a research report released on Monday morning, Marketbeat reports. They currently have a market perform rating on the oil and gas company’s stock.

Several other research analysts also recently commented on the company. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a report on Friday, July 10th. Scotiabank upped their price objective on shares of Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. BNP Paribas Exane raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research note on Friday, April 17th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Wednesday, May 6th. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $207.48.

Chevron Trading Down 2.1%

Shares of CVX opened at $186.48 on Monday. Chevron has a 52-week low of $146.49 and a 52-week high of $214.71. The business’s fifty day moving average is $182.18 and its 200-day moving average is $185.64. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The firm has a market cap of $371.40 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.59 and a beta of 0.49.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 earnings per share for the quarter, topping the consensus estimate of $5.55 by $0.51. The business had revenue of $67.20 billion during the quarter, compared to the consensus estimate of $62.72 billion. Chevron had a return on equity of 11.14% and a net margin of 9.57%.Chevron’s revenue for the quarter was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. Equities analysts anticipate that Chevron will post 15.72 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, August 19th. Chevron’s dividend payout ratio is 68.26%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 710,665 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $194.10, for a total value of $137,940,076.50. Following the transaction, the director owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. This trade represents a 66.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 1,190,665 shares of company stock valued at $230,782,076 over the last 90 days. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Midwest Capital Advisors LLC bought a new stake in Chevron in the first quarter worth about $25,000. Main Street Group LTD bought a new position in shares of Chevron during the 1st quarter valued at approximately $28,000. Phillip James Consulting Co. purchased a new stake in shares of Chevron during the 4th quarter worth approximately $26,000. Core Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $26,000. Finally, Karpus Management Inc. purchased a new position in Chevron in the fourth quarter valued at approximately $27,000. Institutional investors own 72.42% of the company’s stock.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s strong second-quarter performance continues to support the investment case: revenue reached approximately $70.1 billion, net income was $12.1 billion, production increased, and the company maintained its $1.78 quarterly dividend. Higher oil prices and refining margins boosted results. Chevron war-boosted margins and cash flows article
• Positive Sentiment: Chevron was cited among S&P 500 companies expected to generate substantial free cash flow this year, reinforcing its ability to fund dividends, buybacks and debt obligations. Its above-average income yield also makes the stock attractive to dividend-focused investors. Stocks with strong cash flow article
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205, while separate reports indicated that Barclays and Sanford C. Bernstein analysts also expect the shares to rise. However, TD Cowen retained a “hold” rating, limiting the bullish impact. TD Cowen price target report
• Neutral Sentiment: CEO Mike Wirth said Chevron is studying a pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The project could improve Middle East export flexibility, but it remains only under evaluation and faces significant geopolitical and execution risks. Chevron pipeline route article
• Negative Sentiment: Director John B. Hess sold a combined 810,665 Chevron shares worth roughly $157.4 million, sharply reducing his holdings. Although insider sales may reflect personal or transaction-related factors, the size of the sale can weigh on investor sentiment. Chevron SEC insider transaction filing
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for profiting from elevated gasoline prices and called for companies to reduce consumer fuel prices or return some profits to the public. The comments raise regulatory, political and potential windfall-tax concerns, even though higher energy prices are currently benefiting Chevron’s earnings. Trump criticizes Chevron over profits article

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.