Chevron Corp. Price Target Raised to $140.00 at Credit Suisse (CVX)
Stock analysts at Credit Suisse increased their price objective on shares of Chevron Corp. (NYSE:CVX) from $135.00 to $140.00 in a report issued on Monday, AnalystRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price target points to a potential upside of 18.54% from the company’s current price.
A number of other firms have also recently commented on CVX. Analysts at Cowen and Company cut their price target on shares of Chevron Corp. from $140.00 to $136.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Chevron Corp. in a research note to investors on Monday, October 28th. They now have a $127.00 price target on the stock. Finally, analysts at UBS AG cut their EPS estimates on shares of Chevron Corp. in a research note on Thursday. They now have a “neutral” rating and a $125.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $129.65.
Chevron Corp. (NYSE:CVX) traded up 0.08% during mid-day trading on Monday, hitting $118.10. The stock had a trading volume of 6,670,253 shares. Chevron Corp. has a one year low of $100.66 and a one year high of $127.83. The stock has a 50-day moving average of $120. and a 200-day moving average of $121.7. The company has a market cap of $228.2 billion and a price-to-earnings ratio of 9.65. Chevron Corp. also saw unusually large options trading on Friday. Investors purchased 22,426 call options on the company. This is an increase of 144% compared to the average daily volume of 9,205 call options.
Chevron Corp. (NYSE:CVX) last released its earnings data on Friday, November 1st. The company reported $2.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.88 by $0.31. The company had revenue of $58.50 billion for the quarter, compared to the consensus estimate of $58.41 billion. During the same quarter in the prior year, the company posted $2.69 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Chevron Corp. will post $11.70 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Thursday, November 14th.
Chevron Corporation (NYSE:CVX) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services.
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