Chevron (NYSE:CVX) PT Lowered to $163.00 at Scotiabank

Chevron (NYSE:CVX) had its price objective cut by Scotiabank from $180.00 to $163.00 in a report issued on Thursday, Benzinga reports. They currently have a sector outperform rating on the oil and gas company’s stock.

Several other equities research analysts have also weighed in on CVX. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an outperform rating for the company in a report on Monday, September 16th. Sanford C. Bernstein lowered Chevron from an outperform rating to a market perform rating and cut their price target for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays cut their price target on Chevron from $185.00 to $168.00 and set an overweight rating for the company in a report on Thursday, October 3rd. UBS Group upped their price target on Chevron from $189.00 to $192.00 and gave the stock a buy rating in a report on Tuesday, October 8th. Finally, Truist Financial cut their price target on Chevron from $154.00 to $150.00 and set a hold rating for the company in a report on Monday, September 30th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of Moderate Buy and an average price target of $176.81.

Chevron Stock Up 0.5 %

CVX opened at $151.42 on Thursday. The business has a 50 day moving average price of $145.46 and a 200 day moving average price of $153.95. Chevron has a twelve month low of $135.37 and a twelve month high of $170.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $276.94 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.70 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the firm posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. Research analysts forecast that Chevron will post 11.09 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.31%. Chevron’s payout ratio is currently 64.55%.

Institutional Trading of Chevron

Hedge funds have recently added to or reduced their stakes in the company. American Capital Advisory LLC lifted its holdings in Chevron by 403.2% during 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 during the last quarter. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Cooksen Wealth LLC bought a new stake in Chevron during the 4th quarter worth $40,000. Finally, Vima LLC bought a new stake in Chevron during the 4th quarter worth $44,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.