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 Trading Up 0.1 %

NYSE:CVX traded up $0.23 during midday trading on Friday, hitting $159.85. The stock had a trading volume of 7,244,736 shares, compared to its average volume of 7,661,942. The stock has a 50-day moving average of $152.39 and a 200 day moving average of $156.33. The company 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 has a one year low of $92.86 and a one year high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15.

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, topping analysts' consensus estimates of $4.66 by $1.16. The business had revenue of $68.76 billion for the quarter, compared to the consensus estimate of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The business's revenue was up 82.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.71 EPS. As a group, sell-side analysts forecast that Chevron will post 17.75 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be issued a $1.42 dividend. The ex-dividend date is Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.55%. Chevron's dividend payout ratio is currently 37.89%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of Chevron from an "outperform" rating to a "sector perform" rating and raised their target price for the company from $160.00 to $165.00 in a report on Thursday, April 21st. Truist Financial reduced their target price on shares of Chevron from $170.00 to $166.00 and set a "hold" rating on the stock in a report on Tuesday, July 19th. Cowen lowered their price target on shares of Chevron from $179.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, July 1st. Citigroup dropped their price target on Chevron from $170.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 13th. Finally, Wells Fargo & Company upped their price objective on Chevron from $181.00 to $185.00 and gave the company an "overweight" rating in a research report on Monday, August 1st. One research 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. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $173.40.

Insider Transactions at Chevron

In related news, Director Enrique Hernandez, Jr. sold 39,773 shares of Chevron stock in a transaction that occurred on Monday, May 16th. The shares were 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 of the company's stock, valued at $3,997,942.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, 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 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the business's stock in a transaction 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 directly owns 3,560 shares of the company's stock, valued at $574,762. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,343 shares of company stock valued at $37,384,662. Company insiders own 0.32% of the company's stock.