Research Analysts’ Weekly Ratings Changes for Chevron (CVX)

A number of firms have modified their ratings and price targets on shares of Chevron (NYSE: CVX) recently:

• 4/15/2024 – Chevron had its price target raised by analysts at Raymond James from $170.00 to $174.00. They now have an “outperform” rating on the stock.
• 4/11/2024 – Chevron was upgraded by analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating. They now have a $195.00 price target on the stock, up previously from $170.00.
• 4/10/2024 – Chevron is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $203.00 price target on the stock.
• 4/9/2024 – Chevron had its price target raised by analysts at UBS Group AG from $185.00 to $197.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Chevron had its price target lowered by analysts at Truist Financial Co. from $168.00 to $156.00. They now have a “hold” rating on the stock.
• 4/4/2024 – Chevron had its price target raised by analysts at Wells Fargo & Company from $185.00 to $198.00. They now have an “overweight” rating on the stock.
• 4/1/2024 – Chevron had its “buy” rating reaffirmed by analysts at The Goldman Sachs Group, Inc..
• 3/20/2024 – Chevron had its price target raised by analysts at Mizuho from $195.00 to $200.00. They now have a “buy” rating on the stock.
• 3/14/2024 – Chevron had its price target lowered by analysts at Piper Sandler from $188.00 to $180.00. They now have an “overweight” rating on the stock.

Chevron Stock Performance

CVX traded up $0.12 on Wednesday, hitting $156.40. 6,688,069 shares of the company traded hands, compared to its average volume of 8,562,090. The company has a 50 day moving average of $155.11 and a 200-day moving average of $151.83. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $290.48 billion, a PE ratio of 13.77, a PEG ratio of 2.37 and a beta of 1.12. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $172.39.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the business earned $4.09 EPS. The firm’s revenue was down 16.5% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio is currently 57.39%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Trading of Chevron

A number of hedge funds have recently added to or reduced their stakes in the business. Windsor Advisory Group LLC lifted its stake in shares of Chevron by 24.0% in the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock valued at $627,000 after purchasing an additional 720 shares in the last quarter. Renaissance Investment Group LLC lifted its holdings in Chevron by 12.7% in the 4th quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc boosted its position in Chevron by 2.1% in the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the 4th quarter valued at about $254,000. Finally, Strategic Financial Concepts LLC boosted its position in Chevron by 9.0% in the 3rd quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.