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.

Analyst Ratings Changes

A number of research firms have weighed in on CVX. Citigroup lowered their target price on Chevron from $170.00 to $150.00 and set a "neutral" rating on the stock in a report on Wednesday, July 13th. The Goldman Sachs Group reissued a "neutral" rating and issued a $172.00 target price on shares of Chevron in a report on Thursday, August 4th. Raymond James increased their target price on Chevron from $173.00 to $191.00 and gave the company an "outperform" rating in a report on Monday, April 18th. Societe Generale raised Chevron from a "hold" rating to a "buy" rating in a report on Thursday, August 4th. Finally, Piper Sandler lowered their target price on Chevron from $213.00 to $189.00 and set an "overweight" rating on the stock in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and an average price target of $173.40.

Chevron Price Performance

CVX traded up $0.23 on Friday, hitting $159.85. 7,223,943 shares of the company's stock traded hands, compared to its average volume of 13,287,951. The company's 50 day simple moving average is $152.75 and its 200-day simple moving average is $156.14. The firm has a market cap of $314.08 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.62 and a beta of 1.15. Chevron has a one year low of $92.86 and a one year 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.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders 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 yield of 3.55%. The ex-dividend date of this dividend is Thursday, August 18th. Chevron's dividend payout ratio is presently 37.89%.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the firm's stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Enrique Hernandez, Jr. sold 39,773 shares of Chevron stock in a transaction that occurred 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 completion of the transaction, the director now 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 the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total value of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares of the company's stock, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders sold 216,343 shares of company stock worth $37,384,662 in the last quarter. 0.32% of the stock is owned by corporate insiders.