Truist Financial Raises Chevron (NYSE:CVX) Price Target to $155.00

Chevron (NYSE:CVX) had its price target boosted by Truist Financial from $150.00 to $155.00 in a report issued on Monday, Benzinga reports. Truist Financial currently has a hold rating on the oil and gas company’s stock.

CVX has been the subject of a number of other reports. Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. UBS Group boosted their price objective on Chevron from $189.00 to $192.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Price Performance

NYSE:CVX opened at $157.65 on Monday. The firm has a market capitalization of $288.33 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 3.43 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. The business has a 50 day simple moving average of $147.43 and a 200-day simple moving average of $152.90. Chevron has a 1 year low of $135.37 and a 1 year high of $167.11.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the company earned $3.05 earnings per share. Chevron’s revenue was down 6.3% on a year-over-year basis. Equities analysts forecast that Chevron will post 10.65 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.14%. Chevron’s payout ratio is 71.65%.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently bought and sold shares of CVX. International Assets Investment Management LLC increased its position in Chevron by 19,404.1% during the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock valued at $7,218,280,000 after buying an additional 4,876,260 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Chevron by 15,750.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock valued at $574,551,000 after purchasing an additional 3,876,731 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in 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. Wulff Hansen & CO. grew its position in Chevron by 15,542.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after purchasing an additional 1,168,137 shares during the last quarter. Finally, Capital International Investors increased its stake in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock valued at $2,116,600,000 after purchasing an additional 743,042 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other 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.