Chevron (NYSE:CVX) Given New $174.00 Price Target at Raymond James

Chevron (NYSE:CVX) had its price target upped by Raymond James from $170.00 to $174.00 in a report published on Monday, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

CVX has been the topic of a number of other research reports. Mizuho boosted their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a buy rating in a research report on Wednesday, March 20th. TD Cowen lowered shares of Chevron from an outperform rating to a market perform rating and reduced their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Piper Sandler dropped their target price on Chevron from $188.00 to $180.00 and set an overweight rating for the company in a research report on Thursday, March 14th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the company a buy rating in a research note on Tuesday, April 9th. Finally, Wells Fargo & Company raised their price target on Chevron from $185.00 to $198.00 and gave the stock an overweight rating in a research note on Thursday, April 4th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $184.75.

Chevron Stock Performance

Shares of NYSE:CVX opened at $157.49 on Monday. The firm has a fifty day simple moving average of $155.26 and a two-hundred day simple moving average of $151.90. 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 $292.50 billion, a P/E ratio of 13.86, a PEG ratio of 2.30 and a beta of 1.12. Chevron has a 52 week low of $139.62 and a 52 week high of $172.38.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same period last year, the company earned $4.09 EPS. On average, analysts expect that Chevron will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.14%. The ex-dividend date was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in Chevron by 85.1% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after acquiring an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC boosted its stake in Chevron by 25.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares in the last quarter. GQG Partners LLC increased its stake in Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after purchasing an additional 1,813 shares in the last quarter. Lumature Wealth Partners LLC raised its holdings in shares of Chevron by 43.5% in the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after buying an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Chevron by 13.8% during the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after buying an additional 250,840 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

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.