Shares of Chevron Co. (NYSE:CVX) have been given a consensus rating of “Buy” by the eighteen analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $136.06.
CVX has been the topic of a number of recent research reports. BMO Capital Markets assumed coverage on Chevron in a research report on Tuesday, August 20th. They issued an “outperform” rating and a $165.00 target price on the stock. Morgan Stanley reduced their target price on Chevron from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday. Independent Research set a $127.00 target price on Chevron and gave the stock a “neutral” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. reduced their target price on Chevron from $142.00 to $139.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.
In other Chevron news, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction on Monday, September 16th. The stock was sold at an average price of $125.00, for a total value of $4,218,750.00. Following the completion of the transaction, the chief executive officer now directly owns 33,750 shares of the company’s stock, valued at approximately $4,218,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Pierre R. Breber sold 15,000 shares of Chevron stock in a transaction on Monday, September 16th. The shares were sold at an average price of $124.97, for a total value of $1,874,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,750 shares of company stock valued at $10,236,850. 0.31% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Guidant Wealth Advisors grew its position in shares of Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 101 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of Chevron during the 2nd quarter valued at about $34,000. Transamerica Financial Advisors Inc. bought a new stake in shares of Chevron during the 2nd quarter valued at about $46,000. Cordasco Financial Network boosted its position in shares of Chevron by 55.3% during the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 135 shares in the last quarter. Finally, CKW Financial Group boosted its position in shares of Chevron by 154.0% during the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 251 shares in the last quarter. 65.75% of the stock is owned by hedge funds and other institutional investors.
Shares of CVX stock traded down $0.13 during trading hours on Thursday, hitting $120.64. 4,325,572 shares of the company’s stock were exchanged, compared to its average volume of 5,311,924. The stock’s 50-day moving average is $117.29 and its 200-day moving average is $120.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.12 and a quick ratio of 0.93. The stock has a market cap of $230.61 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99. Chevron has a 52 week low of $100.22 and a 52 week high of $127.34.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.11). The firm had revenue of $36.12 billion during the quarter, compared to the consensus estimate of $37.69 billion. Chevron had a net margin of 8.70% and a return on equity of 8.89%. Chevron’s revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.11 EPS. Equities research analysts forecast that Chevron will post 6.25 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be issued a dividend of $1.19 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $4.76 annualized dividend and a yield of 3.95%. Chevron’s payout ratio is currently 57.70%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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