Chevron (NYSE:CVX) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Chevron (NYSE:CVX) in a research report report published on Friday morning,Benzinga reports. The firm issued an overweight rating and a $190.00 target price on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on the company. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Melius assumed coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Evercore ISI restated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Finally, Scotiabank upped their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.25.

Chevron Trading Up 0.9%

Shares of CVX opened at $153.12 on Friday. The business’s 50-day moving average price is $156.03 and its 200-day moving average price is $148.15. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96. The stock has a market cap of $264.58 billion, a PE ratio of 19.71, a P/E/G ratio of 2.00 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. On average, equities analysts forecast that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is currently 88.03%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

Institutional investors have recently made changes to their positions in the stock. CCG Wealth Management LLC boosted its stake in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock valued at $1,060,000 after purchasing an additional 145 shares during the period. Ignite Planners LLC boosted its stake in shares of Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock valued at $2,060,000 after purchasing an additional 1,519 shares during the period. Vista Capital Partners Inc. lifted its stake in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after acquiring an additional 495 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after acquiring an additional 675 shares during the period. Finally, Capital Advisors Inc. OK lifted its stake in Chevron by 0.3% in the first quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after acquiring an additional 1,755 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.