UBS Group Raises Chevron (NYSE:CVX) Price Target to $192.00

Chevron (NYSE:CVX) had its target price boosted by UBS Group from $189.00 to $192.00 in a report released on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on CVX. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company cut their price objective on Chevron from $196.00 to $169.00 and set an overweight rating on the stock in a research report on Friday, September 27th. Barclays reduced their price objective on Chevron from $185.00 to $168.00 and set an overweight rating on the stock in a research note on Thursday, October 3rd. Royal Bank of Canada reissued an outperform rating and set a $170.00 target price on shares of Chevron in a research note on Tuesday. Finally, Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a peer perform rating on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron currently has a consensus rating of Moderate Buy and a consensus target price of $177.59.

Chevron Stock Up 0.5 %

NYSE:CVX opened at $151.42 on Tuesday. Chevron has a 52 week low of $135.37 and a 52 week high of $170.17. The stock’s fifty day moving average is $145.46 and its two-hundred day moving average is $153.96. The stock has a market capitalization of $276.94 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.08 EPS. Research analysts anticipate that Chevron will post 11.09 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s dividend payout ratio is presently 64.55%.

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently made changes to their positions in CVX. Berkshire Hathaway Inc lifted its stake in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after buying an additional 15,845,037 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the period. Global Assets Advisory LLC purchased a new position in Chevron during the 1st quarter worth $156,482,000. Finally, Confluence Investment Management LLC acquired a new position in Chevron in the first quarter valued at $123,681,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.