Mizuho Raises Chevron (NYSE:CVX) Price Target to $215.00

Chevron (NYSE:CVX) had its price objective boosted by Mizuho from $209.00 to $215.00 in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on the company. Piper Sandler cut their target price on Chevron from $196.00 to $188.00 in a research note on Tuesday, June 13th. StockNews.com assumed coverage on Chevron in a research note on Thursday, August 17th. They set a hold rating on the stock. UBS Group boosted their price objective on Chevron from $202.00 to $209.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Royal Bank of Canada raised Chevron from a sector perform rating to an outperform rating and boosted their price objective for the stock from $165.00 to $180.00 in a research note on Thursday, June 1st. Finally, JPMorgan Chase & Co. raised Chevron from an underweight rating to a neutral rating and boosted their price objective for the stock from $161.00 to $170.00 in a research note on Wednesday, May 31st. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $190.61.

Chevron Trading Up 0.4 %

NYSE:CVX opened at $167.22 on Monday. Chevron has a 12-month low of $140.46 and a 12-month high of $189.68. The firm has a market capitalization of $312.24 billion, a P/E ratio of 10.60, a P/E/G ratio of 0.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.43 and a quick ratio of 1.13. The business has a 50 day simple moving average of $160.80 and a 200 day simple moving average of $160.15.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.13. The firm had revenue of $48.90 billion for the quarter, compared to the consensus estimate of $48 billion. Chevron had a return on equity of 19.48% and a net margin of 13.54%. The firm’s revenue for the quarter was down 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.82 EPS. Equities research analysts predict that Chevron will post 13.23 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were paid a $1.51 dividend. The ex-dividend date was Thursday, August 17th. This represents a $6.04 dividend on an annualized basis and a yield of 3.61%. Chevron’s dividend payout ratio (DPR) is currently 38.30%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the transaction, the vice president now owns 1,718 shares in the company, valued at $276,391.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the completion of the sale, the vice president now owns 1,718 shares of the company’s stock, valued at $276,391.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Institutional Trading of Chevron

Hedge funds have recently added to or reduced their stakes in the business. NorthCrest Asset Manangement LLC boosted its stake in Chevron by 247.8% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 3,400 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 5,700 shares during the period. Rebalance LLC bought a new stake in Chevron during the 4th quarter valued at approximately $26,000. NewSquare Capital LLC lifted its position in shares of Chevron by 52.3% in the 1st quarter. NewSquare Capital LLC now owns 195 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 67 shares during the period. Artemis Wealth Advisors LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $33,000. Finally, Worth Asset Management LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $36,000. Institutional investors own 68.87% of the company’s stock.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.