Barclays Issues Pessimistic Forecast for Chevron (NYSE:CVX) Stock Price

Chevron (NYSE:CVX - Free Report) had its price target reduced by Barclays from $174.00 to $171.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the oil and gas company's stock.

A number of other research analysts have also issued reports on CVX. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday. Bank of America started coverage on Chevron in a research note on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Finally, Wells Fargo & Company reduced their price target on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $174.13.

Chevron Stock Up 0.4 %

Shares of CVX stock traded up $0.64 during mid-day trading on Wednesday, reaching $152.54. 4,723,261 shares of the company were exchanged, compared to its average volume of 7,782,159. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The business's 50 day simple moving average is $152.21 and its 200 day simple moving average is $150.88. The company has a market capitalization of $274.13 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.39 and a beta of 1.11. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $167.11.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company earned $3.45 earnings per share. Research analysts predict that Chevron will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $1.71 dividend. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, February 14th. Chevron's payout ratio is presently 67.08%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Institutional Trading of Chevron

Large investors have recently bought and sold shares of the business. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter valued at $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the third quarter valued at about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC purchased a new stake in shares of Chevron during the 3rd quarter valued at $30,000. Finally, Fairway Wealth LLC raised its position in Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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.