Chevron Receives New Coverage from Analysts at Deutsche Bank (CVX)
Stock analysts at Deutsche Bank began coverage on shares of Chevron (NYSE:CVX) in a report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at BMO Capital Markets initiated coverage on shares of Chevron in a research note on Thursday, April 3rd. They set a “market perform” rating and a $125.00 price target on the stock. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $130.45.
Chevron (NYSE:CVX) opened at 124.37 on Tuesday. Chevron has a 52 week low of $109.27 and a 52 week 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 $236.8 billion and a P/E ratio of 12.09.
Chevron (NYSE:CVX) last announced its 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 last year, the company posted $3.18 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Chevron will post $10.73 earnings per share 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.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.