UBS AG Lowers Chevron Corp. Price Target to $120.00 (CVX)
Analysts at UBS AG cut their target price on shares of Chevron Corp. (NYSE:CVX) from $125.00 to $120.00 in a research report issued to clients and investors on Monday, AR Network reports. The firm currently has a “neutral” rating on the stock. UBS AG’s price target indicates a potential upside of 7.97% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Barclays cut their price target on shares of Chevron Corp. from $145.00 to $130.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Chevron Corp. in a research note to investors on Tuesday, January 21st. Finally, 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 equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $132.00.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.44% during mid-day trading on Monday, hitting $111.14. 11,279,834 shares of the company’s stock traded hands. Chevron Corp. has a 52 week low of $111.11 and a 52 week 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 price-to-earnings ratio of 10.07. Chevron Corp. also saw unusually large options trading on Friday. Investors bought 12,015 put options on the stock. This represents an increase of approximately 103% compared to the average 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 last year, the company posted $2.99 earnings per share. Chevron Corp.’s revenue was down 7.3% compared to the same quarter last year. On average, analysts predict that Chevron Corp. will post $11.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Friday, February 14th will be paid a dividend of 1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Wednesday, February 12th.
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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