UBS Group Lowers Chevron (NYSE:CVX) Price Target to $185.00

Chevron (NYSE:CVX) had its price objective reduced by UBS Group from $194.00 to $185.00 in a report released on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on CVX. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $173.53.

Chevron Stock Down 2.4 %

Shares of NYSE:CVX opened at $139.81 on Monday. The company has a market cap of $246.15 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 1.46 and a beta of 0.93. Chevron has a 12 month low of $135.37 and a 12 month high of $168.96. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $157.04 and a 200 day moving average price of $154.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) 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 period in the prior year, the business earned $3.45 earnings per share. As a group, equities research analysts predict that Chevron will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allianz SE purchased a new position in Chevron in the fourth quarter valued at about $9,369,000. Nicholas Company Inc. grew its position in shares of Chevron by 4.3% in the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company’s stock worth $11,591,000 after buying an additional 3,280 shares during the last quarter. Dale Q Rice Investment Management Ltd bought a new position in shares of Chevron during the 4th quarter worth approximately $594,000. Wedbush Securities Inc. lifted its position in Chevron by 6.8% during the fourth quarter. Wedbush Securities Inc. now owns 118,066 shares of the oil and gas company’s stock valued at $17,101,000 after acquiring an additional 7,557 shares during the last quarter. Finally, Unified Investment Management purchased a new stake in Chevron during the fourth quarter valued at approximately $729,000. 72.42% of the stock is currently 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.