Chevron (NYSE:CVX) Given New $168.00 Price Target at Barclays

Chevron (NYSE:CVX) had its price target trimmed by Barclays from $185.00 to $168.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the oil and gas company’s stock.

CVX has been the subject of a number of other reports. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They set a peer perform rating for the company. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a sector outperform rating for the company in a report on Friday, July 12th. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a hold rating for the company in a report on Monday, September 30th. Wells Fargo & Company decreased their target price on shares of Chevron from $196.00 to $169.00 and set an overweight rating on the stock in a research report on Friday, September 27th. Finally, Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an outperform rating on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $179.00.

Chevron Trading Down 0.3 %

NYSE:CVX opened at $150.74 on Thursday. The stock has a market capitalization of $277.81 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $170.17. The business’s 50-day simple moving average is $145.99 and its 200-day simple moving average is $154.11. 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 (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 business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts expect that Chevron will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently modified their holdings of CVX. First International Bank & Trust lifted its holdings in shares of Chevron by 10.7% in the 3rd quarter. First International Bank & Trust now owns 2,096 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 203 shares in the last quarter. ZRC Wealth Management LLC increased its holdings in shares of Chevron by 19.6% in the third quarter. ZRC Wealth Management LLC now owns 4,149 shares of the oil and gas company’s stock worth $611,000 after buying an additional 680 shares during the period. Cullen Investment Group LTD. lifted its holdings in Chevron by 2.2% in the third quarter. Cullen Investment Group LTD. now owns 24,275 shares of the oil and gas company’s stock worth $3,575,000 after buying an additional 530 shares during the period. Trivant Custom Portfolio Group LLC boosted its holdings in Chevron by 1.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 16,408 shares of the oil and gas company’s stock worth $2,416,000 after acquiring an additional 220 shares in the last quarter. Finally, Central Valley Advisors LLC boosted its position in shares of Chevron by 2.8% during the third quarter. Central Valley Advisors LLC now owns 6,910 shares of the oil and gas company’s stock valued at $1,018,000 after buying an additional 190 shares during 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.