Chevron (NYSE:CVX) Price Target Raised to $206.00 at Wells Fargo & Company

Chevron (NYSE:CVX) had its target price lifted by Wells Fargo & Company from $198.00 to $206.00 in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the company a buy rating in a report on Tuesday, April 9th. The Goldman Sachs Group reissued a buy rating on shares of Chevron in a research report on Monday, April 1st. Truist Financial dropped their price objective on shares of Chevron from $168.00 to $156.00 and set a hold rating for the company in a report on Friday, April 5th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the stock an outperform rating in a report on Monday, April 15th. Finally, Scotiabank upgraded shares of Chevron from a sector perform rating to a sector outperform rating and boosted their price target for the stock from $170.00 to $195.00 in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of Moderate Buy and a consensus target price of $185.35.

Chevron Trading Down 0.3 %

Shares of CVX stock opened at $160.25 on Tuesday. Chevron has a 1-year low of $139.62 and a 1-year high of $171.70. The firm has a market cap of $297.63 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 2.38 and a beta of 1.11. The company has a 50-day moving average of $157.14 and a two-hundred day moving average of $151.80. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.55 EPS. On average, analysts predict that Chevron will post 13.53 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred 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 transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. American Capital Advisory LLC raised its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the third quarter worth approximately $26,000. Bare Financial Services Inc acquired a new stake in shares of Chevron during the fourth quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV grew its position in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 80 shares during the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in Chevron in the 4th quarter valued at $30,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.