Analysts Set Chevron Corporation (NYSE:CVX) Target Price at $204.13

Chevron Corporation (NYSE:CVX) has received an average rating of “Moderate Buy” from the twenty-five brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $204.2174.

A number of equities analysts have weighed in on CVX shares. Piper Sandler lifted their price target on shares of Chevron from $179.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, March 12th. Scotiabank lifted their price target on shares of Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. UBS Group lifted their price target on shares of Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Melius Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Tuesday, February 17th. Finally, Mizuho boosted their target price on shares of Chevron from $206.00 to $217.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: WTI crude above $95 per barrel is lifting Permian oil and associated gas economics, which should be a tailwind for Chevron’s upstream earnings and cash flow. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley raised its price target on Chevron to $214 from $212 and reiterated an overweight rating, signaling continued Wall Street confidence in the stock’s upside. Benzinga / The Fly analyst update
• Positive Sentiment: Chevron’s planned participation in a Bernstein conference next week keeps investor attention on management commentary and strategic updates. Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Positive Sentiment: Chevron’s new next-generation Techron gasoline additive may help support brand strength and retail fuel performance over time. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Positive Sentiment: Chevron stands to receive about $2.17 billion from the sale of several Asia Pacific refining and retail assets to Eneos, which supports balance-sheet flexibility and portfolio simplification. Chevron Corporation (CVX) Poised for $2.17B Boost from Asia Pacific Asset Sale

Chevron Stock Up 0.3%

Shares of CVX opened at $191.51 on Friday. The firm has a market cap of $381.42 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The company’s fifty day moving average is $193.54 and its two-hundred day moving average is $174.60. Chevron has a fifty-two week low of $134.06 and a fifty-two week high of $214.71. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. Chevron’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $2.18 EPS. Analysts forecast that Chevron will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.7%. Chevron’s payout ratio is 123.40%.

Insider Activity

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of Chevron stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the sale, the insider directly owned 11,337 shares in the company, valued at $2,130,449.04. This trade represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,179,699 shares of company stock worth $224,675,517 over the last three months. 0.56% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its stake in Chevron by 14.9% during the 4th quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the period. Brooklyn FI LLC acquired a new position in Chevron during the 3rd quarter valued at about $431,000. Clear Trail Advisors LLC acquired a new position in Chevron during the 4th quarter valued at about $10,167,000. Finemark National Bank & Trust boosted its stake in Chevron by 40.3% during the 3rd quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock valued at $8,779,000 after purchasing an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC acquired a new position in Chevron during the 4th quarter valued at about $1,381,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.