Chevron - CVX Stock Forecast, Price & News

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.

Chevron Stock Up 0.1 %

NYSE:CVX traded up $0.23 during mid-day trading on Friday, hitting $159.85. The company's stock had a trading volume of 7,244,736 shares, compared to its average volume of 7,661,942. The company's 50 day simple moving average is $152.39 and its 200 day simple moving average is $156.49. Chevron has a twelve month low of $92.86 and a twelve month high of $182.40. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $314.07 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 0.64 and a beta of 1.15.

Chevron (NYSE:CVX - Get Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter last year, the firm posted $1.71 EPS. Chevron's revenue was up 82.9% compared to the same quarter last year. Analysts anticipate that Chevron will post 17.75 earnings per share for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 19th will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron's dividend payout ratio (DPR) is presently 37.89%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CVX shares. Bank of America upped their price target on shares of Chevron from $178.00 to $180.00 and gave the stock a "buy" rating in a research report on Monday, August 1st. Piper Sandler dropped their price target on shares of Chevron from $213.00 to $189.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 19th. Citigroup dropped their price target on shares of Chevron from $170.00 to $150.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 13th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $172.00 price objective on shares of Chevron in a report on Thursday, August 4th. Finally, Barclays upped their price objective on shares of Chevron from $183.00 to $196.00 and gave the company an "overweight" rating in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $173.40.

Insider Buying and Selling at Chevron

In other Chevron news, Director Enrique Hernandez, Jr. sold 39,773 shares of the firm's stock in a transaction on Monday, May 16th. The stock was sold at an average price of $173.99, for a total transaction of $6,920,104.27. Following the transaction, the director now directly owns 22,978 shares in the company, valued at approximately $3,997,942.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 11,799 shares of Chevron stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $175.00, for a total transaction of $2,064,825.00. Following the sale, the director now directly owns 24,281 shares in the company, valued at approximately $4,249,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 39,773 shares of Chevron stock in a transaction on Monday, May 16th. The stock was sold at an average price of $173.99, for a total value of $6,920,104.27. Following the sale, the director now owns 22,978 shares in the company, valued at $3,997,942.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 216,343 shares of company stock worth $37,384,662. Corporate insiders own 0.32% of the company's stock.