Chevron Given Consensus Recommendation of “Buy” by Brokerages (NYSE:CVX)
Chevron (NYSE:CVX) has received a consensus recommendation of “Buy” from the fifteen analysts that are presently covering the stock, American Banking & Market News reports. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $134.42.
CVX has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of Chevron from $142.00 to $157.00 in a research note on Thursday, July 17th. They now have a “buy” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Chevron from $132.00 to $146.00 in a research note on Friday, July 11th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Wednesday, June 11th. They now have a $132.00 price target on the stock.
Shares of Chevron (NYSE:CVX) opened at 131.29 on Friday. Chevron has a 52-week low of $109.27 and a 52-week high of $133.57. The stock’s 50-day moving average is $128.7 and its 200-day moving average is $121.4. The company has a market cap of $249.9 billion and a price-to-earnings ratio of 12.70. Chevron also was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 21,067,353 shares, an increase of 20.9% from the June 13th total of 17,423,499 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average daily volume of 7,916,023 shares, the short-interest ratio is presently 2.7 days.
Chevron (NYSE:CVX) last issued its quarterly earnings data 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. On average, analysts predict that Chevron will post $10.81 earnings per share for the current fiscal year.
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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