Brokerages Set Chevron Co. (NYSE:CVX) Target Price at $173.53

Chevron Co. (NYSE:CVX - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $172.20.

CVX has been the subject of a number of research reports. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Thursday, December 19th. UBS Group dropped their price target on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. 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. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, Raymond James reduced their price target on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd.

Chevron Trading Up 1.0 %

Shares of CVX stock traded up $1.36 on Friday, reaching $136.99. 869,119 shares of the company's stock were exchanged, compared to its average volume of 7,852,608. The company's fifty day simple moving average is $155.34 and its 200 day simple moving average is $153.90. The stock has a market capitalization of $241.18 billion, a PE ratio of 14.08, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 in the prior year, the firm earned $3.45 earnings per share. As a group, analysts forecast that Chevron will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders 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 4.99%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the fourth quarter worth $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth about $25,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron in the 4th quarter valued at about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter worth about $29,000. Finally, Fairway Wealth LLC grew its holdings in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

About Chevron

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.