Chevron Receives Average Recommendation of “Buy” from Analysts (NYSE:CVX)
Shares of Chevron (NYSE:CVX) have been given an average rating of “Buy” by the sixteen analysts that are covering the company, StockRatingsNetwork reports. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $131.42.
Shares of Chevron (NYSE:CVX) traded up 0.40% during mid-day trading on Tuesday, hitting $124.87. 1,631,622 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 $124.1 and a 200-day moving average of $119.8. The company has a market cap of $237.7 billion and a price-to-earnings ratio of 12.11.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The company reported $2.36 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.51 by $0.15. The company had revenue of $53.27 billion for the quarter, compared to the consensus estimate of $54.47 billion. During the same quarter in the prior year, the company posted $3.18 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts expect that Chevron will post $10.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Thursday, May 15th. This is an increase from Chevron’s previous quarterly dividend of $1.00.
A number of research firms have recently commented on CVX. Analysts at Deutsche Bank initiated coverage on shares of Chevron in a research note on Tuesday. They set a “buy” rating and a $142.00 price target on the stock. Separately, analysts at Argus downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. They now have a $130.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Jefferies Group initiated coverage on shares of Chevron in a research note on Tuesday, April 8th. They set a “buy” rating and a $140.00 price target on the stock. They noted that the move was a valuation call.
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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