Chevron Co. (NYSE:CVX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Chevron Co. (NYSE:CVX) have been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $175.19.

Several equities analysts recently commented on CVX shares. UBS Group upped their target price on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th.

Chevron Stock Up 0.8 %

CVX stock opened at $147.85 on Wednesday. The stock has a market capitalization of $265.70 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. The company has a 50-day moving average of $153.67 and a two-hundred day moving average of $151.21. 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 current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Chevron will post 10.5 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Lantz Financial LLC boosted its stake in Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after acquiring an additional 623 shares during the last quarter. Klingenstein Fields & Co. LP increased its holdings in Chevron by 1.2% in the second quarter. Klingenstein Fields & Co. LP now owns 59,525 shares of the oil and gas company’s stock valued at $9,311,000 after purchasing an additional 702 shares during the last quarter. YHB Investment Advisors Inc. lifted its stake in Chevron by 2.6% in the second quarter. YHB Investment Advisors Inc. now owns 32,034 shares of the oil and gas company’s stock valued at $5,011,000 after buying an additional 807 shares during the period. TIAA Trust National Association boosted its holdings in Chevron by 9.8% during the second quarter. TIAA Trust National Association now owns 217,066 shares of the oil and gas company’s stock worth $33,953,000 after buying an additional 19,358 shares during the last quarter. Finally, Allegheny Financial Group LTD grew its position in shares of Chevron by 5.2% during the 2nd quarter. Allegheny Financial Group LTD now owns 9,092 shares of the oil and gas company’s stock worth $1,422,000 after buying an additional 451 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.