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.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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%.
