Chevron Corporation (NYSE:CVX) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Chevron Corporation has been given a consensus recommendation of "Hold" by 22 analysts, with an average 12-month price target of $163.95.
• Recent trading activity includes a significant stock sale by Director John B. Hess, who sold 375,000 shares, impacting his position by 21.09%.
• The company has declared a quarterly dividend of $1.71, scheduled for payment on September 10th, reflecting an annualized yield of 4.4%.

Chevron Corporation (NYSE:CVX - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-two analysts that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $163.95.

CVX has been the topic of a number of research analyst reports. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Scotiabank restated a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. TD Cowen raised their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, August 4th. Finally, Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd raised its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP bought a new position in Chevron during the 1st quarter worth approximately $31,000. 10Elms LLP bought a new position in Chevron during the 4th quarter worth approximately $29,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares during the last quarter. Finally, Quaker Wealth Management LLC raised its holdings in Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 439 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Chevron Trading Down 2.4%

Shares of Chevron stock opened at $153.83 on Monday. The company has a market capitalization of $265.81 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.28 and a beta of 0.90. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron has a 12-month low of $132.04 and a 12-month high of $168.96. The firm's 50-day moving average price is $153.69 and its two-hundred day moving average price is $148.80.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. The business's revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts forecast that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is presently 88.03%.

About Chevron

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.

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