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

Shares of Chevron Co. (NYSE:CVX) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $174.13.

Several analysts recently weighed in on CVX shares. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of CVX. Allspring Global Investments Holdings LLC increased its position in shares of Chevron by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 223,561 shares of the oil and gas company’s stock valued at $32,924,000 after purchasing an additional 27,483 shares during the last quarter. Xcel Wealth Management LLC increased its position in shares of Chevron by 3.3% during the 3rd quarter. Xcel Wealth Management LLC now owns 4,048 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 131 shares during the last quarter. Eastern Bank increased its position in shares of Chevron by 82.2% during the 3rd quarter. Eastern Bank now owns 256,979 shares of the oil and gas company’s stock valued at $37,845,000 after purchasing an additional 115,927 shares during the last quarter. Pegasus Asset Management Inc. increased its position in shares of Chevron by 0.6% during the 3rd quarter. Pegasus Asset Management Inc. now owns 28,829 shares of the oil and gas company’s stock valued at $4,246,000 after purchasing an additional 169 shares during the last quarter. Finally, Hofer & Associates. Inc increased its position in shares of Chevron by 9.1% during the 3rd quarter. Hofer & Associates. Inc now owns 1,652 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

NYSE:CVX opened at $157.85 on Thursday. The stock has a market cap of $283.68 billion, a P/E ratio of 16.24, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm’s fifty day simple moving average is $152.14 and its 200 day simple moving average is $151.20. Chevron has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 prior year, the firm posted $3.45 earnings per share. As a group, research analysts predict 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 $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.33%. Chevron’s payout ratio is 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.