Chevron (NYSE:CVX) Trading 0.9% Higher After Analyst Upgrade

Shares of Chevron Co. (NYSE:CVX) rose 0.9% during mid-day trading on Thursday after Piper Sandler raised their price target on the stock from $180.00 to $204.00. Piper Sandler currently has an overweight rating on the stock. Chevron traded as high as $158.04 and last traded at $157.82. Approximately 1,040,075 shares traded hands during trading, a decline of 88% from the average daily volume of 8,474,752 shares. The stock had previously closed at $156.40.

A number of other research firms have also recently commented on CVX. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $170.00 to $150.00 in a research note on Tuesday, January 23rd. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Monday, January 8th. Finally, Barclays began coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Buying and Selling at Chevron

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently modified their holdings of CVX. Pacifica Partners Inc. boosted its holdings in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the last quarter. Sweet Financial Partners LLC boosted its holdings in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after buying an additional 65 shares during the last quarter. Ellenbecker Investment Group boosted its holdings in Chevron by 1.5% in the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after buying an additional 65 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its holdings in Chevron by 0.7% in the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,484,000 after buying an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Trading Up 0.9 %

The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $293.02 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 2.30 and a beta of 1.12. The company has a fifty day moving average of $155.19 and a 200-day moving average of $151.86.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same period last year, the company posted $4.09 EPS. The business’s revenue was down 16.5% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 13.56 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is 57.39%.

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.