Research Analysts’ Weekly Ratings Changes for Chevron (CVX)

A number of firms have modified their ratings and price targets on shares of Chevron (NYSE: CVX) recently:

• 11/5/2024 – Chevron was upgraded by analysts at DZ Bank AG from a “hold” rating to a “buy” rating. They now have a $170.00 price target on the stock.
• 11/4/2024 – Chevron had its price target raised by analysts at Barclays PLC from $168.00 to $174.00. They now have an “overweight” rating on the stock.
• 11/4/2024 – Chevron had its price target raised by analysts at Royal Bank of Canada from $170.00 to $175.00. They now have an “outperform” rating on the stock.
• 11/4/2024 – Chevron had its price target raised by analysts at Truist Financial Co. from $150.00 to $155.00. They now have a “hold” rating on the stock.
• 11/4/2024 – Chevron had its price target raised by analysts at UBS Group AG from $192.00 to $194.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Chevron is now covered by analysts at Bank of America Co.. They set a “buy” rating and a $168.00 price target on the stock.
• 10/10/2024 – Chevron had its price target lowered by analysts at Scotiabank from $180.00 to $163.00. They now have a “sector outperform” rating on the stock.
• 10/8/2024 – Chevron had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $170.00 price target on the stock.
• 10/8/2024 – Chevron had its price target raised by analysts at UBS Group AG from $189.00 to $192.00. They now have a “buy” rating on the stock.
• 10/3/2024 – Chevron had its price target lowered by analysts at Barclays PLC from $185.00 to $168.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Chevron had its price target lowered by analysts at Truist Financial Co. from $154.00 to $150.00. They now have a “hold” rating on the stock.
• 9/27/2024 – Chevron had its price target lowered by analysts at Wells Fargo & Company from $196.00 to $169.00. They now have an “overweight” rating on the stock.

Chevron Price Performance

Shares of CVX stock traded up $1.73 during trading hours on Wednesday, hitting $161.33. 6,390,264 shares of the company’s stock were exchanged, compared to its average volume of 7,651,631. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. Chevron Co. has a 52 week low of $135.37 and a 52 week high of $167.11. The stock has a market cap of $289.92 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 3.63 and a beta of 1.09. The stock’s 50-day moving average is $150.23 and its 200-day moving average is $152.57.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.05 earnings per share. As a group, research analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter worth about $29,000. Rational Advisors LLC bought a new stake in Chevron during the 3rd quarter valued at $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the 3rd quarter worth $30,000. RPg Family Wealth Advisory LLC purchased a new stake in Chevron during the 3rd quarter valued at about $31,000. Finally, Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

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.