Raymond James Raises Chevron (NYSE:CVX) Price Target to $174.00

Chevron (NYSE:CVX) had its target price hoisted by Raymond James from $170.00 to $174.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

CVX has been the topic of a number of other research reports. Mizuho increased their target price on shares of Chevron from $195.00 to $200.00 and gave the stock a buy rating in a research report on Wednesday, March 20th. DZ Bank downgraded shares of Chevron from a buy rating to a hold rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an outperform rating in a research note on Monday, February 5th. Piper Sandler dropped their price objective on shares of Chevron from $188.00 to $180.00 and set an overweight rating for the company in a research note on Thursday, March 14th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $185.00 to $198.00 and gave the company an overweight rating in a research note on Thursday, April 4th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $183.55.

Chevron Stock Up 0.1 %

Chevron stock opened at $156.38 on Monday. The stock has a market cap of $290.44 billion, a P/E ratio of 13.77, a P/E/G ratio of 2.37 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron has a twelve month low of $139.62 and a twelve month high of $172.39. The company’s 50-day moving average price is $155.19 and its two-hundred day moving average price is $151.86.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts expect that Chevron will post 13.28 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVX. Picton Mahoney Asset Management bought a new stake in Chevron in the 3rd quarter worth about $26,000. Bare Financial Services Inc bought a new stake in Chevron in the 4th quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in Chevron in the 4th quarter worth about $30,000. Finally, Valued Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter worth about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.