Chevron Corporation (NYSE:CVX) Receives $206.04 Consensus PT from Brokerages

Chevron Corporation (NYSE:CVX) has earned a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $207.1739.

A number of equities analysts recently commented on CVX shares. Bank of America increased their price target on Chevron from $210.00 to $227.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 22nd. Piper Sandler assumed coverage on shares of Chevron in a report on Thursday, July 23rd. They issued an “overweight” rating and a $207.00 target price for the company. TD Cowen boosted their price target on shares of Chevron from $197.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Finally, UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd.

Insider Buying and Selling

In related news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently modified their holdings of CVX. Midwest Capital Advisors LLC bought a new position in Chevron during the 1st quarter valued at about $25,000. Main Street Group LTD purchased a new position in shares of Chevron during the first quarter valued at approximately $28,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the fourth quarter valued at approximately $26,000. Core Wealth Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth approximately $26,000. Finally, Karpus Management Inc. purchased a new stake in shares of Chevron in the fourth quarter worth approximately $27,000. 72.42% of the stock is owned by institutional investors.

Chevron News Summary

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Strong earnings beat: Chevron reported adjusted earnings of $12.0 billion, or $6.06 per diluted share, versus analysts’ expectation of $5.55. Reported earnings reached $12.1 billion, the company’s highest quarterly profit in at least six years, while revenue rose 57.4% year over year to $67.2 billion. Chevron records highest quarterly profit in six years, tops estimates
• Positive Sentiment: Higher production and refining performance: Global oil-equivalent production increased 20% to 4.07 million barrels per day, supported by Hess-related assets, the Permian Basin and the Gulf of America. Record U.S. production, strong refining margins and near-full-capacity operations boosted results. CVX Q2 Earnings Beat on Higher Output and Strong Refining Margins
• Positive Sentiment: Excellent cash generation and growth opportunities: Operating cash flow was $22.6 billion, and Chevron maintained its $1.78 quarterly dividend. Management also highlighted expansion plans involving Iraq, Venezuela, Argentina and a 20-year power agreement to supply a Microsoft data center. Chevron CFO on second-quarter earnings, growth plan and Iraq accord
• Neutral Sentiment: Energy-sector tailwind: Rising crude, gasoline and diesel prices, driven by Middle East supply disruptions, lifted Chevron and other integrated oil companies and supported broader energy ETFs. Supermajor Earnings: Exxon and Chevron’s Impact on ETF Market
• Negative Sentiment: Geopolitical and valuation risks remain: Chevron said the conflict reduced output in the Saudi Arabia–Kuwait Partitioned Zone. Executives also warned of escalating supply risks, while potential gasoline-price interventions or windfall taxes could pressure future profits. Analysts noted that some of the earnings improvement may already be reflected in the stock price. Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector

Chevron Stock Up 2.5%

CVX opened at $197.10 on Thursday. The company has a market capitalization of $392.55 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The firm has a 50-day simple moving average of $181.95 and a two-hundred day simple moving average of $184.96. 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 has a 52 week low of $146.49 and a 52 week high of $214.71.

Chevron (NYSE:CVX) last issued its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts’ expectations of $62.72 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 57.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. Analysts forecast that Chevron will post 15.64 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.6%. Chevron’s dividend payout ratio (DPR) is presently 123.40%.

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.