Analysts Set Chevron Co. (NYSE:CVX) PT at $160.24

Shares of Chevron Co. (NYSE:CVX - Get Free Report) have earned a consensus recommendation of "Hold" from the nineteen research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $160.24.

Several equities research analysts have recently commented on the stock. Piper Sandler decreased their target price on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a research report on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a research report on Tuesday, April 15th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Finally, Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th.

Chevron Stock Down 1.1%

Shares of NYSE:CVX traded down $1.48 during midday trading on Friday, hitting $136.43. 12,856,437 shares of the company's stock were exchanged, compared to its average volume of 8,115,079. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50 day moving average price of $141.88 and a 200-day moving average price of $150.57. The company has a market cap of $238.26 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron has a 12 month low of $132.04 and a 12 month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.93 earnings per share. On average, sell-side analysts anticipate that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be given a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.01%. Chevron's dividend payout ratio is presently 78.17%.

Institutional Trading of Chevron

Several hedge funds and other institutional investors have recently modified their holdings of the business. TFB Advisors LLC raised its stake in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares during the period. W.H. Cornerstone Investments Inc. grew its holdings in Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock valued at $677,000 after buying an additional 66 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after buying an additional 66 shares during the period. Western Pacific Wealth Management LP lifted its holdings in shares of Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after buying an additional 67 shares in the last quarter. Finally, Berkeley Capital Partners LLC boosted its position in shares of Chevron by 0.4% in the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company's stock valued at $2,572,000 after acquiring an additional 67 shares during the period. Institutional investors own 72.42% of the company's stock.

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.