Chevron (NYSE:CVX) Given New $178.00 Price Target at HSBC

Chevron (NYSE:CVX) had its target price lifted by HSBC from $175.00 to $178.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages also recently issued reports on CVX. DZ Bank downgraded Chevron from a buy rating to a hold rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Truist Financial lowered their target price on Chevron from $168.00 to $156.00 and set a hold rating for the company in a report on Friday, April 5th. Raymond James raised their target price on Chevron from $170.00 to $174.00 and gave the company an outperform rating in a report on Monday, April 15th. Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the company a buy rating in a report on Wednesday, March 20th. Finally, TD Cowen raised their target price on Chevron from $155.00 to $160.00 and gave the company a hold rating in a report on Monday, April 29th. 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, the company presently has a consensus rating of Moderate Buy and an average target price of $185.35.

Chevron Trading Down 0.3 %

Chevron stock opened at $160.25 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Chevron has a 12 month low of $139.62 and a 12 month high of $171.70. The stock’s 50 day simple moving average is $157.14 and its two-hundred day simple moving average is $151.80. The firm has a market cap of $297.63 billion, a PE ratio of 14.74, a P/E/G ratio of 2.38 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the prior year, the firm posted $3.55 EPS. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Chevron will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at $45,540. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its holdings in Chevron by 2.2% in the first quarter. Geneos Wealth Management Inc. now owns 38,916 shares of the oil and gas company’s stock valued at $6,139,000 after purchasing an additional 844 shares during the last quarter. Lester Murray Antman dba SimplyRich purchased a new position in Chevron in the first quarter valued at about $289,000. Silver Oak Advisory Group Inc. bought a new position in Chevron during the 1st quarter worth approximately $201,000. Valley Wealth Managers Inc. lifted its holdings in Chevron by 0.9% during the 1st quarter. Valley Wealth Managers Inc. now owns 138,155 shares of the oil and gas company’s stock worth $21,793,000 after buying an additional 1,263 shares during the last quarter. Finally, Buck Wealth Strategies LLC raised its position in shares of Chevron by 323.9% during the 1st quarter. Buck Wealth Strategies LLC now owns 8,851 shares of the oil and gas company’s stock worth $1,396,000 after purchasing an additional 6,763 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.