Chevron Corp. PT Lowered to $130.00 (CVX)
Analysts at Barclays dropped their price objective on shares of Chevron Corp. (NYSE:CVX) from $145.00 to $130.00 in a research report issued to clients and investors on Monday, AmericanBankingNews.com reports. The firm currently has an “equal weight” rating on the stock. Barclays’ price target would indicate a potential upside of 16.97% from the company’s current price.
Chevron Corp. (NYSE:CVX) traded down 0.44% on Monday, hitting $111.14. The stock had a trading volume of 11,280,034 shares. Chevron Corp. has a one year low of $111.11 and a one year high of $127.83. The stock’s 50-day moving average is $120. and its 200-day moving average is $121.5. The company has a market cap of $213.7 billion and a P/E ratio of 10.07. Chevron Corp. also saw unusually large options trading on Friday. Investors bought 12,015 put options on the company. This represents an increase of approximately 103% compared to the average daily volume of 5,917 put options.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.57 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.92 by $0.35. The company had revenue of $56.16 billion for the quarter, compared to the consensus estimate of $63.14 billion. During the same quarter in the prior year, the company posted $2.99 earnings per share. The company’s quarterly revenue was down 7.3% on a year-over-year basis. On average, analysts predict that Chevron Corp. will post $11.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of 1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, February 12th.
CVX has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Chevron Corp. in a research note to investors on Tuesday, January 21st. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Chevron Corp. in a research note to investors on Monday, January 13th. They now have a $127.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $132.00.
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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