Chevron (NYSE:CVX) Price Target Lowered to $189.00 at Mizuho

Chevron (NYSE:CVX) had its price target decreased by Mizuho from $205.00 to $189.00 in a report released on Monday, Benzinga reports. Mizuho currently has an outperform rating on the oil and gas company’s stock.

CVX has been the subject of several other reports. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an outperform rating for the company in a report on Monday, August 5th. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a hold rating for the company in a report on Monday, August 5th. Sanford C. Bernstein lowered shares of Chevron from an outperform rating to a market perform rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank decreased their price target on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Finally, Barclays reduced their target price on shares of Chevron from $203.00 to $185.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has an average rating of Moderate Buy and an average price target of $182.88.

Chevron Price Performance

Shares of CVX stock opened at $142.11 on Monday. The firm has a market cap of $259.91 billion, a P/E ratio of 13.07, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron has a 1-year low of $135.37 and a 1-year high of $171.70. The firm has a fifty day moving average of $148.88 and a two-hundred day moving average of $154.68.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, research analysts anticipate that Chevron will post 11.57 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.59%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Institutional Trading of Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Berkshire Hathaway Inc raised its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Capital World Investors raised its holdings in shares of Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Chevron by 13.0% in the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock worth $2,330,235,000 after purchasing an additional 1,797,171 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Chevron by 68,604.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock worth $180,158,000 after purchasing an additional 1,206,059 shares in 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.