Brokerages Set Chevron Co. (NYSE:CVX) Price Target at $174.13

Chevron Co. (NYSE:CVX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $174.13.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Barclays dropped their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reissued an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Truist Financial decreased their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Chevron

Several hedge funds have recently added to or reduced their stakes in CVX. Life Planning Partners Inc acquired a new position in Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth $25,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Down 1.2 %

NYSE CVX traded down $1.87 during trading on Thursday, hitting $156.92. 6,686,883 shares of the company's stock traded hands, compared to its average volume of 6,690,703. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a fifty day moving average of $151.97 and a two-hundred day moving average of $150.99. The firm has a market cap of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. Chevron has a 12-month low of $135.37 and a 12-month high of $167.11.

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

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron's dividend payout ratio is presently 70.37%.

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.