Chevron (NYSE:CVX) PT Lowered to $180.00 at Royal Bank of Canada

Chevron (NYSE:CVX) had its price objective lowered by Royal Bank of Canada from $190.00 to $180.00 in a research report released on Monday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the oil and gas company’s stock.

Several other equities research analysts also recently weighed in on the stock. Truist Financial reduced their target price on shares of Chevron from $156.00 to $154.00 and set a hold rating on the stock in a research note on Monday. Piper Sandler increased their target price on shares of Chevron from $180.00 to $204.00 and gave the company an overweight rating in a research note on Thursday, April 18th. Mizuho increased their target price on shares of Chevron from $200.00 to $205.00 and gave the company a buy rating in a research note on Monday, May 13th. Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the company an outperform rating in a research note on Monday, April 15th. Finally, Scotiabank reduced their target price on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $183.82.

Chevron Price Performance

CVX stock opened at $142.41 on Monday. Chevron has a 52 week low of $139.62 and a 52 week high of $171.70. 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 fifty day simple moving average of $155.50 and a two-hundred day simple moving average of $156.02. The firm has a market capitalization of $262.46 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. Analysts anticipate that Chevron will post 12.45 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.58%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company’s stock, valued at $4,581,279. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Capital Advisory LLC boosted its stake in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc purchased a new position in shares of Chevron in the fourth quarter worth $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron during the fourth quarter worth $30,000. Anfield Capital Management LLC grew its holdings in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new position in Chevron in the 4th quarter worth $40,000. 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.