Chevron Given New $130.00 Price Target at Oppenheimer (CVX)
Equities research analysts at Oppenheimer dropped their price objective on shares of Chevron (NYSE:CVX) from $140.00 to $130.00 in a research note issued to investors on Wednesday, AnalystRatings.Net reports. Oppenheimer’s price target would indicate a potential upside of 15.34% from the company’s current price.
In other Chevron news, Director Robert Denham purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $113.41 per share, for a total transaction of $226,820.00. Following the completion of the purchase, the director now directly owns 36,141 shares of the company’s stock, valued at approximately $4,098,751. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Chevron (NYSE:CVX) traded up 0.79% during mid-day trading on Wednesday, hitting $113.60. 7,993,616 shares of the company’s stock traded hands. Chevron has a 1-year low of $109.27 and a 1-year high of $127.83. The stock has a 50-day moving average of $116.9 and a 200-day moving average of $120.2. The company has a market cap of $218.5 billion and a P/E ratio of 10.16.
Chevron (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 will post $11.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, March 10th. Shareholders 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 3.55%. The ex-dividend date is Wednesday, February 12th.
A number of other analysts have also recently weighed in on CVX. Analysts at TheStreet reiterated a “buy” rating on shares of Chevron in a research note on Friday, February 14th. Finally, analysts at Raymond James upgraded shares of Chevron from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, February 4th. They now have a $132.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $131.67.
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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