Chevron Co. (NYSE:CVX) Receives Average Rating of “Moderate Buy” from Brokerages

Chevron Co. (NYSE:CVXGet Rating) has earned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $180.11.

A number of analysts have commented on the company. Raymond James boosted their target price on Chevron from $188.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, October 31st. Piper Sandler boosted their target price on Chevron from $186.00 to $206.00 and gave the stock an “overweight” rating in a research report on Friday, November 11th. The Goldman Sachs Group reiterated a “neutral” rating and set a $172.00 target price on shares of Chevron in a research report on Thursday, August 4th. HSBC downgraded Chevron from a “buy” rating to a “hold” rating and set a $177.00 target price on the stock. in a research report on Monday, October 24th. Finally, Morgan Stanley upped their price objective on Chevron from $193.00 to $196.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 19th.

Insider Activity at Chevron

In related news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $185.09, for a total value of $10,250,284.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Chevron news, CEO Michael K. Wirth sold 55,380 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $185.09, for a total transaction of $10,250,284.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $179.44, for a total value of $485,564.64. Following the sale, the director now owns 21,964 shares of the company’s stock, valued at $3,941,220.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,097 shares of company stock worth $22,971,967. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cordant Inc. purchased a new stake in shares of Chevron in the first quarter worth about $29,000. Orion Capital Management LLC boosted its position in shares of Chevron by 85.0% in the first quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock worth $36,000 after buying an additional 102 shares during the period. Worth Asset Management LLC purchased a new stake in shares of Chevron in the first quarter worth about $36,000. Steward Financial Group LLC boosted its position in shares of Chevron by 932.0% in the first quarter. Steward Financial Group LLC now owns 258 shares of the oil and gas company’s stock worth $42,000 after buying an additional 233 shares during the period. Finally, Win Advisors Inc. boosted its position in shares of Chevron by 61.2% in the second quarter. Win Advisors Inc. now owns 316 shares of the oil and gas company’s stock worth $46,000 after buying an additional 120 shares during the period. 69.30% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Down 0.9 %

Chevron stock opened at $184.24 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.40 and a quick ratio of 1.15. Chevron has a 1-year low of $110.73 and a 1-year high of $189.68. The company has a market cap of $356.25 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.65 and a beta of 1.21. The stock’s 50 day moving average price is $168.12 and its 200 day moving average price is $161.64.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share for the quarter, beating analysts’ consensus estimates of $5.22 by $0.34. The firm had revenue of $66.64 billion for the quarter, compared to the consensus estimate of $61.44 billion. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.96 earnings per share. On average, sell-side analysts predict that Chevron will post 19.24 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a $1.42 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $5.68 annualized dividend and a yield of 3.08%. Chevron’s payout ratio is currently 32.31%.

Chevron Company Profile

(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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Analyst Recommendations for Chevron (NYSE:CVX)

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