Chevron (NYSE:CVX) PT Lowered to $156.00 at Truist Financial

Chevron (NYSE:CVX) had its target price trimmed by Truist Financial from $166.00 to $156.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Wolfe Research began coverage on Chevron in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Scotiabank dropped their target price on Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. TD Cowen upped their price target on Chevron from $155.00 to $160.00 and gave the stock a hold rating in a report on Monday, April 29th. Finally, Sanford C. Bernstein cut Chevron from an outperform rating to a market perform rating and lowered their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $185.67.

Chevron Stock Up 0.6 %

CVX opened at $155.08 on Monday. The business has a 50 day moving average price of $156.84 and a two-hundred day moving average price of $155.51. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market cap of $285.81 billion, a PE ratio of 14.27, a P/E/G ratio of 2.49 and a beta of 1.10. Chevron has a 52 week low of $139.62 and a 52 week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter in the previous year, the firm posted $3.55 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts anticipate that Chevron will post 12.6 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio is presently 59.98%.

Insiders Place Their Bets

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the completion of the transaction, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold a total of 13,946 shares of company stock valued at $2,265,971 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. American Capital Advisory LLC raised its position in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares during the period. Bare Financial Services Inc purchased a new position in Chevron in the fourth quarter valued at about $27,000. Frank Rimerman Advisors LLC purchased a new position in Chevron in the fourth quarter valued at about $30,000. Cooksen Wealth LLC purchased a new position in Chevron in the fourth quarter valued at about $40,000. Finally, Clear Investment Research LLC raised its position in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 204 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.