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.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CVX shares. Truist Financial lowered 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. Royal Bank of Canada lowered shares of Chevron from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $160.00 to $165.00 in a research report on Thursday, April 21st. Credit Suisse Group upped their price objective on shares of Chevron from $190.00 to $202.00 and gave the stock an "outperform" rating in a report on Thursday, June 9th. Raymond James upped their price objective on shares of Chevron from $173.00 to $191.00 and gave the stock an "outperform" rating in a report on Monday, April 18th. Finally, Citigroup cut their price target on shares of Chevron from $170.00 to $150.00 and set a "neutral" rating for the company in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, Chevron has a consensus rating of "Moderate Buy" and an average price target of $173.00.

Chevron Stock Performance

Chevron stock traded down $0.38 on Monday, reaching $153.26. 41,559 shares of the stock were exchanged, compared to its average volume of 13,421,792. The stock has a market cap of $301.13 billion, a PE ratio of 10.25, a PEG ratio of 0.62 and a beta of 1.15. 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 has a twelve month low of $92.86 and a twelve month high of $182.40. The firm has a fifty day moving average price of $154.37 and a two-hundred day moving average price of $155.73.

Chevron (NYSE:CVX - Get Rating) last posted its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to analysts' expectations of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm's revenue for the quarter was up 82.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Sell-side analysts anticipate that Chevron will post 17.51 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.71%. Chevron's payout ratio is currently 37.89%.

Insider Activity at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company's stock, valued at $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the company's stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares of the company's stock, valued at $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rhonda J. Morris sold 59,700 shares of the company's stock in a transaction dated Friday, May 13th. The stock was sold at an average price of $167.19, for a total transaction of $9,981,243.00. Following the sale, the vice president now directly owns 830 shares in the company, valued at $138,767.70. The disclosure for this sale can be found here. Insiders have sold a total of 399,043 shares of company stock valued at $67,010,843 over the last quarter. 0.32% of the stock is owned by company insiders.