Analysts Set Chevron Co. (NYSE:CVX) Target Price at $162.86

Shares of Chevron Co. (NYSE:CVX – Get Rating) have received an average recommendation of “Buy” from the twenty-six brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $164.43.

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their price target on Chevron from $140.00 to $170.00 in a report on Wednesday, March 2nd. Piper Sandler increased their price target on Chevron from $150.00 to $173.00 and gave the stock an “overweight” rating in a report on Wednesday, March 2nd. UBS Group increased their target price on Chevron from $150.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, April 5th. The Goldman Sachs Group increased their target price on Chevron from $154.00 to $176.00 and gave the stock a “neutral” rating in a report on Tuesday, March 15th. Finally, Credit Suisse Group increased their target price on Chevron from $180.00 to $190.00 in a report on Monday.

In related news, VP R. Hewitt Pate sold 125,300 shares of Chevron stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $137.59, for a total value of $17,240,027.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin E. Parfitt sold 15,500 shares of Chevron stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $132.91, for a total value of $2,060,105.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 378,733 shares of company stock valued at $51,995,290. Insiders own 0.32% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CVX. Norges Bank bought a new position in Chevron in the 4th quarter worth about $3,111,594,000. Renaissance Technologies LLC boosted its stake in Chevron by 317.1% in the 3rd quarter. Renaissance Technologies LLC now owns 2,523,725 shares of the oil and gas company’s stock worth $256,032,000 after purchasing an additional 1,918,630 shares during the period. Invesco Ltd. boosted its stake in Chevron by 16.0% in the 3rd quarter. Invesco Ltd. now owns 13,482,487 shares of the oil and gas company’s stock worth $1,367,797,000 after purchasing an additional 1,859,425 shares during the period. Neuberger Berman Group LLC boosted its stake in Chevron by 137.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,658,662 shares of the oil and gas company’s stock worth $267,659,000 after purchasing an additional 1,537,886 shares during the period. Finally, Morgan Stanley boosted its stake in Chevron by 6.9% in the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock worth $2,440,693,000 after purchasing an additional 1,513,296 shares during the period. Institutional investors and hedge funds own 65.89% of the company’s stock.

Shares of CVX stock opened at $168.25 on Monday. The business’s 50 day simple moving average is $163.30 and its 200 day simple moving average is $136.18. Chevron has a one year low of $92.86 and a one year high of $174.76. The stock has a market capitalization of $330.57 billion, a PE ratio of 15.75, a PEG ratio of 0.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.26 and a quick ratio of 1.02.

Chevron (NYSE:CVX – Get Rating) last announced its earnings results on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.27 by $0.09. Chevron had a return on equity of 14.94% and a net margin of 11.10%. The business had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The firm’s revenue was up 69.8% on a year-over-year basis. As a group, research analysts expect that Chevron will post 16.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Thursday, May 19th will be given a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Wednesday, May 18th. Chevron’s dividend payout ratio is presently 53.38%.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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