Chevron (NYSE:CVX) Given New $154.00 Price Target at Truist Financial

Chevron (NYSE:CVX) had its price objective lowered by Truist Financial from $156.00 to $154.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other research analysts have also issued reports on the stock. TD Cowen increased their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a hold rating in a research note on Monday, April 29th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a peer perform rating for the company. Raymond James raised their price objective on shares of Chevron from $170.00 to $174.00 and gave the company an outperform rating in a research note on Monday, April 15th. Mizuho raised their price objective on shares of Chevron from $200.00 to $205.00 and gave the company a buy rating in a research note on Monday, May 13th. Finally, Piper Sandler raised their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an overweight rating in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $183.82.

Chevron Trading Down 1.0 %

CVX traded down $1.48 during trading on Monday, hitting $143.18. 9,688,218 shares of the stock traded hands, compared to its average volume of 7,907,377. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron has a 12-month low of $139.62 and a 12-month high of $171.70. The firm has a market capitalization of $263.88 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The firm has a 50-day moving average of $156.10 and a 200 day moving average of $156.11.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the company posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Chevron will post 12.45 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.55%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares in the company, valued at $76,429.71. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently bought and sold shares of the business. Berkshire Hathaway Inc lifted its stake 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 valued at $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after buying an additional 1,999,332 shares in the last quarter. Norges Bank acquired a new position in shares of Chevron in the fourth quarter worth about $2,902,007,000. Bank of New York Mellon Corp boosted its stake in shares of Chevron by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after acquiring an additional 654,482 shares in the last quarter. Finally, Capital World Investors boosted its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.