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
Several equities research analysts recently commented on CVX shares. Piper Sandler reduced their price objective on Chevron from $213.00 to $189.00 and set an "overweight" rating for the company in a report on Tuesday, July 19th. Cowen raised their price objective on shares of Chevron from $119.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. Citigroup cut their target price on shares of Chevron from $170.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, July 13th. Barclays lifted their price objective on shares of Chevron from $183.00 to $196.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 31st. Finally, Cowen lifted their price objective on shares of Chevron from $119.00 to $120.00 and gave the stock an "outperform" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $169.00.
Chevron Stock Performance
Shares of CVX Stock opened at $159.02 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average of $150.68 and a two-hundred day moving average of $157.02. The company has a market cap of $312.44 billion, a P/E ratio of 10.61, a PEG ratio of 0.62 and a beta of 1.15. Chevron has a 52 week low of $92.86 and a 52 week high of $182.40.
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 return on equity of 19.73% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to analysts' expectations of $57.69 billion. During the same quarter in the prior year, the company earned $1.71 earnings per share. The firm's revenue was up 82.9% on a year-over-year basis. As a group, analysts anticipate that Chevron will post 17.75 EPS for the current year.
Chevron Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Friday, August 19th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron's dividend payout ratio is 37.89%.
Insider Activity at Chevron
In other news, Director Enrique Hernandez, Jr. sold 11,799 shares of Chevron stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $175.00, for a total transaction of $2,064,825.00. Following the completion of the sale, the director now owns 24,281 shares in the company, valued at approximately $4,249,175. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Enrique Hernandez, Jr. sold 11,799 shares of the business's stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $175.00, for a total transaction of $2,064,825.00. Following the transaction, the director now directly owns 24,281 shares in the company, valued at $4,249,175. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the sale, the chief financial officer now owns 7 shares of the company's stock, valued at $1,106.77. The disclosure for this sale can be found here. Insiders have sold a total of 199,070 shares of company stock valued at $34,022,033 in the last 90 days. 0.32% of the stock is owned by corporate insiders.
