Chevron (NYSE:CVX) Trading 1.8% Higher on Analyst Upgrade

Chevron Co. (NYSE:CVX)’s stock price rose 1.8% during trading on Friday 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 $160.74 and last traded at $160.41. Approximately 1,895,276 shares were traded during trading, a decline of 78% from the average daily volume of 8,436,661 shares. The stock had previously closed at $157.57.

CVX has been the topic of several other reports. UBS Group lifted their target price on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Barclays initiated coverage on shares of Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Insider Activity

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

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. increased its stake in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares in the last quarter. Sweet Financial Partners LLC grew its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Ellenbecker Investment Group grew its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Finally, Mayfair Advisory Group LLC grew its stake in shares of 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 acquiring an additional 65 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27. The stock has a market cap of $297.16 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 2.36 and a beta of 1.12. The company’s 50 day moving average price is $155.44 and its 200-day moving average price is $151.86.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue was down 16.5% compared to the same quarter last year. Equities analysts forecast that Chevron Co. will post 13.27 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s payout ratio 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.