Chevron Corporation (NYSE:CVX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Chevron has a “Moderate Buy” consensus rating: Twenty of 26 analysts rate the stock a buy, five recommend holding, and one recommends selling. The average 12-month price target is approximately $211.35.
• Recent results exceeded expectations: Chevron reported quarterly EPS of $6.06 versus the $5.55 consensus estimate, while revenue reached $67.2 billion, up 57.4% year over year.
• Shareholders continue to receive substantial income: Chevron paid a quarterly dividend of $1.78 per share, equivalent to a $7.12 annualized payout and a 3.4% yield. Institutional investors own 72.42% of the company, while insiders have sold more than 1.15 million shares in the past 90 days.

Chevron Corporation (NYSE:CVX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $211.3478.

Several analysts have recently commented on the stock. Barclays lowered their price target on shares of Chevron from $216.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Monday, August 17th. BMO Capital Markets lifted their price objective on Chevron from $210.00 to $235.00 and gave the stock an "outperform" rating in a research report on Thursday, September 3rd. Weiss Ratings raised Chevron from a "hold (c)" rating to a "buy (b)" rating in a research note on Tuesday, August 11th. Piper Sandler increased their target price on Chevron from $207.00 to $243.00 and gave the company an "overweight" rating in a report on Thursday, September 3rd. Finally, Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th.

Chevron Trading Down 0.0%

Shares of CVX stock opened at $211.53 on Friday. The stock has a market cap of $417.94 billion, a P/E ratio of 20.28, a P/E/G ratio of 0.62 and a beta of 0.50. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. Chevron has a fifty-two week low of $146.49 and a fifty-two week high of $217.78. The business has a fifty day simple moving average of $198.73 and a 200-day simple moving average of $191.61.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating analysts' consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analysts' expectations of $62.72 billion. Chevron had a net margin of 9.57% and a return on equity of 11.09%. The firm's revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.77 EPS. On average, analysts forecast that Chevron will post 16.51 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a dividend of $1.78 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.4%. Chevron's dividend payout ratio (DPR) is presently 68.26%.

Insider Buying and Selling

In related news, Director John Hess sold 100,000 shares of Chevron stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $194.26, for a total transaction of $19,426,000.00. Following the completion of the sale, the director owned 178,045 shares in the company, valued at approximately $34,587,021.70. This trade represents a 35.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Walz sold 16,800 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares of the company's stock, valued at $2,814.84. The trade was a 99.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,152,582 shares of company stock worth $225,853,661 in the last ninety days. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bullseye Investment Management LLC acquired a new position in shares of Chevron in the second quarter valued at approximately $255,000. Keystone Financial Planning Inc. grew its stake in Chevron by 228.8% in the 2nd quarter. Keystone Financial Planning Inc. now owns 81,844 shares of the oil and gas company's stock worth $13,566,000 after acquiring an additional 56,954 shares during the period. Rench Wealth Management Inc. raised its holdings in Chevron by 0.8% in the 2nd quarter. Rench Wealth Management Inc. now owns 33,778 shares of the oil and gas company's stock valued at $5,599,000 after acquiring an additional 252 shares during the last quarter. Miramontes Capital LLC lifted its stake in shares of Chevron by 3.9% during the 2nd quarter. Miramontes Capital LLC now owns 15,410 shares of the oil and gas company's stock worth $2,554,000 after purchasing an additional 581 shares during the period. Finally, Core Capital Management & Research inc. acquired a new stake in shares of Chevron during the second quarter worth $2,541,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron News Roundup

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Goldman Sachs raised its price target for Chevron (CVX), citing the company’s production expansion plans. The upgrade reinforces the view that higher output could support future earnings and cash flow. Chevron Stock Gets a Boost in Price Target by Goldman Sachs on Production Expansion
• Positive Sentiment: Chevron’s expanded Venezuelan joint ventures add Orinoco Belt acreage and could bring more than $7 billion of investment over five years. The additional resources may improve long-term production and cash-flow potential, although the projects carry geopolitical and execution risks. Will Chevron’s Expanded Venezuelan Oil Ventures Redefine Its Long-Term Cash Flow Narrative?
• Positive Sentiment: Reports highlight Chevron’s strong downstream performance and a power agreement with Microsoft as examples of businesses that could generate value with less reliance on crude prices. Global LNG expansion across four continents also offers a potential growth avenue. Chevron Doesn’t Need Oil to Hit New Highs Chevron Plans Global LNG Expansion Across Four Continents
• Positive Sentiment: Zacks characterized CVX as a strong momentum stock, potentially supporting continued investor interest while the shares trade close to their yearly high. Why Chevron Is a Strong Momentum Stock

Chevron Company Profile

Chevron Corporation is an integrated energy company engaged in the exploration, production, transportation and sale of crude oil and natural gas. The company also manufactures and markets transportation fuels, lubricants, petrochemicals and additives through operations and brands that include Chevron, Texaco and Caltex.

Chevron's upstream activities include oil and natural gas exploration and production, while its downstream business includes refining, fuel marketing, transportation and related energy services.

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