Chevron Corporation (NYSE:CVX) shares traded 0.72% higher at $160.90 on Wall Street last session.
In accordance with the data, 28 analysts cover Chevron Corporation (NYSE:CVX). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $209.00 and a low of $165.00, we find $180.50. Given the previous closing price of $159.75, this indicates a potential upside of 12.99 percent. CVX stock price is now 1.94% away from the 50-day moving average and -3.25% away from the 200-day moving average. The market capitalization of the company currently stands at $304.74B.
It has been rated a hold by 11 analysts and a buy by 15. Brokers who have rated the stock have averaged $185.65 as their price target over the next twelve months.
With the price target enhanced from $205 to $209, Mizuho Upgraded its rating from Neutral to Buy for Chevron Corporation (NYSE: CVX).
In other news, Breber Pierre R, VP & Chief Financial Officer sold 25,000 shares of the company’s stock on Aug 11. The stock was sold for $4,100,000 at an average price of $164.00. Upon completion of the transaction, the VP & Chief Financial Officer now directly owns 6,021 shares in the company, valued at $0.97 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, Vice President GUSTAVSON JEFF B sold 3,750 shares of the business’s stock. A total of $603,300 was realized by selling the stock at an average price of $160.88. This leaves the insider owning 1,718 shares of the company worth $0.28 million. Insiders disposed of 612,674 shares of company stock worth roughly $98.58 million over the past 1 year. A total of 0.04% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CVX stock. A new stake in Chevron Corporation shares was purchased by UBS OCONNOR LLC during the first quarter worth $231,447,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $147,147,000 in shares of CVX during the first quarter. In the first quarter, ALPINE ASSOCIATES MANAGEMENT INC. acquired a new stake in Chevron Corporation valued at approximately $137,482,000. PORTSIDE WEALTH GROUP, LLC acquired a new stake in CVX for approximately $104,219,000. SOROS FUND MANAGEMENT LLC purchased a new stake in CVX valued at around $103,988,000 in the second quarter. In total, there are 3,886 active investors with 72.00% ownership of the company’s stock.
Chevron Corporation (NYSE: CVX) opened at $158.38 on Friday. During the past 12 months, Chevron Corporation has had a low of $140.46 and a high of $189.68. As of last week, the company has a debt-to-equity ratio of 0.14, a current ratio of 1.40, and a quick ratio of 1.10. The fifty day moving average price for CVX is $157.85 and a two-hundred day moving average price translates $166.21 for the stock.
The latest earnings results from Chevron Corporation (NYSE: CVX) was released for Jun, 2023. According to the Oil & Gas Integrated Company, earnings per share came in at $3.08, beating analysts’ expectations of $2.97 by 0.11. This compares to $5.99 EPS in the same period last year. The net profit margin was 14.10% and return on equity was 19.00% for CVX. The company reported revenue of $48.9 billion for the quarter, compared to $68.76 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -28.89 percent. For the current quarter, analysts expect CVX to generate $48.92B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/11/2023. Investors who held shares on 08/18/2023 were paid a $1.51 dividend. On an annualized basis, this represents a $6.04 dividend and a 3.75% percent yield. There was an ex-dividend date of 08/17/2023 for this dividend. In terms of dividend payout ratio, CVX is presently at 37.00%.
