TD Cowen Raises Chevron (NYSE:CVX) Price Target to $160.00

Chevron (NYSE:CVX) had its target price lifted by TD Cowen from $155.00 to $160.00 in a research report report published on Monday morning, MarketBeat reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Raymond James boosted their price target on Chevron from $170.00 to $174.00 and gave the company an outperform rating in a research report on Monday, April 15th. Scotiabank raised Chevron from a sector perform rating to a sector outperform rating and increased their price target for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. The Goldman Sachs Group reissued a buy rating on shares of Chevron in a research note on Monday, April 1st. Barclays initiated coverage on shares of Chevron in a research note on Wednesday, April 10th. They issued an overweight rating and a $203.00 target price for the company. Finally, Piper Sandler increased their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an overweight rating in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of Moderate Buy and an average price target of $185.35.

Chevron Price Performance

Shares of NYSE CVX opened at $159.56 on Monday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $296.35 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.12. The stock has a 50 day moving average of $157.04 and a two-hundred day moving average of $151.74. Chevron has a twelve month low of $139.62 and a twelve month high of $171.70.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. Chevron’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.55 EPS. On average, research analysts forecast that Chevron will post 13.71 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s payout ratio is currently 59.98%.

Insider Activity

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the stock. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Chevron during the third quarter worth $26,000. Bare Financial Services Inc acquired a new position in Chevron in the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV increased its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. 72.42% of the stock is currently 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.