Chevron (NYSE:CVX) Price Target Increased to $204.00 by Analysts at Piper Sandler

Chevron (NYSE:CVX - Free Report) had its target price lifted by Piper Sandler from $180.00 to $204.00 in a research note published on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the oil and gas company's stock.

Several other research analysts have also commented on CVX. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They issued an overweight rating and a $203.00 price target for the company. TD Cowen lowered Chevron from an outperform rating to a market perform rating and dropped their target price for the company from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Royal Bank of Canada boosted their target price on Chevron from $185.00 to $190.00 and gave the company an outperform rating in a research report on Monday, February 5th. DZ Bank lowered Chevron from a buy rating to a hold rating and set a $160.00 target price for the company. in a research report on Tuesday, February 6th. Finally, Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an outperform rating in a research report on Monday. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has an average rating of Moderate Buy and an average target price of $184.75.

Chevron Trading Up 0.7 %

CVX traded up $1.09 on Thursday, hitting $157.49. The company had a trading volume of 4,978,068 shares, compared to its average volume of 8,529,610. The company has a market cap of $292.50 billion, a PE ratio of 13.83, a PEG ratio of 2.30 and a beta of 1.12. Chevron has a 12-month low of $139.62 and a 12-month high of $172.38. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The business's fifty day simple moving average is $155.19 and its 200 day simple moving average is $151.86.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm's revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the business posted $4.09 earnings per share. Equities research analysts expect that Chevron will post 13.56 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is an increase from Chevron's previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. Chevron's dividend payout ratio is presently 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the transaction, the vice president now directly owns 276 shares of the company's stock, valued at $44,184.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Chevron

Large investors have recently made changes to their positions in the business. Woodmont Investment Counsel LLC grew its holdings in shares of Chevron by 5.0% during the first quarter. Woodmont Investment Counsel LLC now owns 109,395 shares of the oil and gas company's stock valued at $17,256,000 after buying an additional 5,173 shares during the last quarter. Synergy Asset Management LLC grew its holdings in shares of Chevron by 83.0% during the first quarter. Synergy Asset Management LLC now owns 18,350 shares of the oil and gas company's stock valued at $2,895,000 after buying an additional 8,325 shares during the last quarter. Westhampton Capital LLC grew its holdings in shares of Chevron by 3.8% during the first quarter. Westhampton Capital LLC now owns 6,893 shares of the oil and gas company's stock valued at $1,087,000 after buying an additional 250 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its holdings in shares of Chevron by 3.3% during the first quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,604 shares of the oil and gas company's stock valued at $411,000 after buying an additional 82 shares during the last quarter. Finally, Cullinan Associates Inc. grew its holdings in shares of Chevron by 0.8% during the first quarter. Cullinan Associates Inc. now owns 188,197 shares of the oil and gas company's stock valued at $29,686,000 after buying an additional 1,573 shares during the last quarter. 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.