Chevron (NYSE:CVX) Price Target Raised to $200.00

Chevron (NYSE:CVX) had its target price increased by TD Cowen from $197.00 to $200.00 in a research note released on Wednesday morning, MarketBeat reports. They currently have a hold rating on the oil and gas company’s stock.

A number of other analysts have also commented on CVX. Sanford C. Bernstein cut their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Mizuho lifted their target price on Chevron from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, May 27th. Scotiabank boosted their target price on Chevron from $168.00 to $187.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Barclays boosted their target price on Chevron from $192.00 to $213.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 26th. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $205.17.

Chevron Stock Up 0.2%

Shares of CVX stock opened at $194.72 on Wednesday. The firm has a fifty day moving average of $182.12 and a 200-day moving average of $183.83. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $387.80 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 0.69 and a beta of 0.50.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business posted $2.18 earnings per share. As a group, equities research analysts predict that Chevron will post 14.75 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio (DPR) is 123.40%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the transaction, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently modified their holdings of the stock. Midwest Capital Advisors LLC bought a new position in Chevron in the 1st quarter valued at about $25,000. Main Street Group LTD bought a new stake in shares of Chevron during the first quarter worth approximately $28,000. Phillip James Consulting Co. bought a new stake in shares of Chevron during the fourth quarter worth approximately $26,000. Core Wealth Advisors LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $26,000. Finally, Karpus Management Inc. acquired a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. 72.42% of the stock is owned by institutional investors.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron was highlighted as one of the biggest beneficiaries of the recent oil rally, with Brent briefly topping $100 a barrel and integrated oil majors gaining as investors price in tighter global supply. BATL, CVX, XOM Stocks Rise As Brent Crude Tops $100 – Trump Threatens Iran With ‘Major Military Punishment’ After Houthi Attack On Saudi Ships
• Positive Sentiment: Chevron was also singled out as the only “outperform”-rated global oil major in Piper Sandler’s new coverage, reinforcing a relatively favorable analyst view versus peers. Chevron only outperform-rated name among global oil majors initiated at Piper Sandler
• Neutral Sentiment: Recent commentary says Chevron is rallying despite a classic bearish signal, suggesting momentum traders are still buying the stock even after the move in oil. Chevron ignored a classic bearish call: Here’s why stock is rallying
• Neutral Sentiment: Several previews ahead of next week’s earnings note that Chevron is expected to report higher earnings, but one Zacks piece warns the company may not have the ideal setup for a clear beat. Chevron (CVX) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Negative Sentiment: Some analysis cautions that Chevron’s rally could face headwinds if Chinese crude demand weakens, which could limit upside even if oil prices remain elevated. Chevron’s Biggest Stock Rally Since 2022 Faces a China-Sized Problem

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.