The price of Chevron Corporation (NYSE:CVX) shares last traded on Wall Street rose 1.99% to $164.30.
Based on available information, 28 analysts follow 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 $181.00. Given the previous closing price of $161.10, this indicates a potential upside of 12.35 percent. CVX stock price is now 3.79% away from the 50-day moving average and -0.53% away from the 200-day moving average. The market capitalization of the company currently stands at $307.31B.
Among analysts, 11 rate the stock a hold while 15 rate it a buy. Brokers who have rated the stock have averaged $186.16 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 $0.99 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 508,624 shares of company stock worth roughly $83.57 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 $236,337,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $150,256,000 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 $140,388,000. SOROS FUND MANAGEMENT LLC acquired a new stake in CVX for approximately $106,185,000. KRYGER CAPITAL LTD purchased a new stake in CVX valued at around $77,810,000 in the second quarter. In total, there are 3,886 active investors with 72.00% ownership of the company’s stock.
A candlestick chart of Chevron Corporation (NYSE: CVX) showed a price of $162.64 on Friday morning. 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 $158.53 and a two-hundred day moving average price translates $165.07 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 $49.21B 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 3.68% 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%.
Chevron Corporation(CVX) 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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant. The Downstream segment refines crude oil into petroleum products; markets crude oil, refined products, and lubricants; manufactures and markets renewable fuels; transports crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufactures and markets commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is headquartered in San Ramon, California.
