Chevron (NYSE:CVX) Earns "Neutral" Rating from BNP Paribas

BNP Paribas reiterated their neutral rating on shares of Chevron (NYSE:CVX - Free Report) in a research note released on Tuesday, MarketBeat Ratings reports. They currently have a $140.00 price objective on the oil and gas company's stock.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler reduced their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Finally, Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $169.50.

Chevron Stock Up 1.7 %

CVX stock traded up $2.32 during midday trading on Tuesday, reaching $137.68. The company had a trading volume of 8,423,604 shares, compared to its average volume of 7,913,168. The company has a market capitalization of $242.39 billion, a P/E ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. Chevron has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $153.94 and a two-hundred day moving average of $153.50.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the company earned $3.45 EPS. On average, equities research analysts expect that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.97%. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's payout ratio is presently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the company. Clarius Group LLC raised its holdings in shares of Chevron by 20.9% in the first quarter. Clarius Group LLC now owns 15,649 shares of the oil and gas company's stock worth $2,618,000 after buying an additional 2,710 shares during the period. Hemenway Trust Co LLC boosted its position in Chevron by 2.4% during the first quarter. Hemenway Trust Co LLC now owns 154,289 shares of the oil and gas company's stock worth $25,811,000 after purchasing an additional 3,556 shares in the last quarter. GSB Wealth Management LLC grew its position in shares of Chevron by 0.7% in the first quarter. GSB Wealth Management LLC now owns 19,634 shares of the oil and gas company's stock valued at $3,285,000 after purchasing an additional 128 shares during the period. Optivise Advisory Services LLC increased its position in shares of Chevron by 10.8% during the first quarter. Optivise Advisory Services LLC now owns 1,641 shares of the oil and gas company's stock worth $274,000 after purchasing an additional 160 shares in the last quarter. Finally, Clayton Financial Group LLC increased its holdings in shares of Chevron by 4.6% in the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock valued at $285,000 after purchasing an additional 75 shares during the last quarter. 72.42% of the stock is currently owned by 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.