Barclays Trims Chevron (NYSE:CVX) Target Price to $168.00

Chevron (NYSE:CVX) had its price objective decreased by Barclays from $185.00 to $168.00 in a research note released on Thursday morning, Benzinga reports. Barclays currently has an overweight rating on the oil and gas company’s stock.

CVX has been the topic of several other research reports. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a report on Friday, July 12th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a peer perform rating on the stock. Wells Fargo & Company decreased their price objective on Chevron from $196.00 to $169.00 and set an overweight rating for the company in a report on Friday, September 27th. UBS Group dropped their target price on Chevron from $192.00 to $189.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Finally, Sanford C. Bernstein lowered Chevron from an outperform rating to a market perform rating and lowered their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $179.00.

Chevron Price Performance

CVX stock opened at $150.74 on Thursday. Chevron has a 1 year low of $135.37 and a 1 year high of $170.17. The stock has a market capitalization of $275.69 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. The company’s 50-day moving average is $145.99 and its 200-day moving average is $154.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business posted $3.08 EPS. The company’s revenue was up 4.7% on a year-over-year basis. Equities research analysts expect that Chevron will post 11.09 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.33%. Chevron’s payout ratio is 59.98%.

Institutional Trading of Chevron

Several hedge funds have recently made changes to their positions in CVX. J. W. Coons Advisors LLC lifted its stake in shares of Chevron by 1.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock valued at $1,059,000 after buying an additional 100 shares in the last quarter. Morningstar Investment Services LLC boosted its holdings in shares of Chevron by 99.0% in the fourth quarter. Morningstar Investment Services LLC now owns 251,978 shares of the oil and gas company’s stock worth $37,739,000 after acquiring an additional 125,344 shares during the period. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at $30,000. Beacon Investment Advisors LLC raised its stake in shares of Chevron by 2.6% during the 4th quarter. Beacon Investment Advisors LLC now owns 4,190 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 105 shares during the period. Finally, Delaney Dennis R lifted its holdings in Chevron by 13.3% during the 4th quarter. Delaney Dennis R now owns 22,163 shares of the oil and gas company’s stock worth $3,306,000 after purchasing an additional 2,595 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

About Chevron

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.