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.

Analysts Set New Price Targets

A number of research firms have issued reports on CVX. Morgan Stanley upped their price target on shares of Chevron from $185.00 to $190.00 and gave the company an "equal weight" rating in a report on Tuesday, July 19th. Bank of America upped their price target on shares of Chevron from $178.00 to $180.00 and gave the company a "buy" rating in a report on Monday, August 1st. Raymond James upped their price target on shares of Chevron from $173.00 to $191.00 and gave the company an "outperform" rating in a report on Monday, April 18th. Societe Generale upgraded shares of Chevron from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Truist Financial reduced their target price on shares of Chevron from $170.00 to $166.00 and set a "hold" rating for the company in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $173.00.

Chevron Price Performance

Shares of NYSE:CVX traded up $2.50 during mid-day trading on Friday, hitting $153.64. 7,170,150 shares of the stock were exchanged, compared to its average volume of 8,170,638. The company has a market cap of $301.87 billion, a P/E ratio of 10.25, a PEG ratio of 0.62 and a beta of 1.15. The stock's fifty day simple moving average is $154.37 and its two-hundred day simple moving average is $155.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43. Chevron has a twelve month low of $92.86 and a twelve month high of $182.40.

Chevron (NYSE:CVX - Get Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 20.19%. The company's revenue was up 82.9% on a year-over-year basis. During the same quarter last year, the business posted $1.71 earnings per share. As a group, analysts forecast that Chevron will post 17.51 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Thursday, August 18th. Chevron's payout ratio is 37.89%.

Insider Activity

In other news, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the sale, the director now directly owns 3,543 shares of the company's stock, valued at $628,138.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the sale, the executive vice president now directly owns 788 shares of the company's stock, valued at $125,662.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of the stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the sale, the director now directly owns 3,543 shares in the company, valued at $628,138.47. The disclosure for this sale can be found here. Insiders have sold 399,043 shares of company stock valued at $67,010,843 over the last three months. 0.32% of the stock is owned by insiders.