Chevron Receives Consensus Rating of “Buy” from Analysts (NYSE:CVX)
Chevron (NYSE:CVX) has received a consensus recommendation of “Buy” from the sixteen analysts that are presently covering the company, AnalystRatings.NET reports. Seven equities research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $136.43.
Chevron (NYSE:CVX) opened at 128.59 on Thursday. Chevron has a 52-week low of $109.27 and a 52-week high of $135.10. The stock has a 50-day moving average of $129. and a 200-day moving average of $123.4. The company has a market cap of $244.2 billion and a price-to-earnings ratio of 12.28.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.72 by $0.26. The company had revenue of $55.58 billion for the quarter, compared to the consensus estimate of $57.38 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. Analysts expect that Chevron will post $10.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, August 15th.
CVX has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Tuesday. They now have a $134.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Chevron from $135.00 to $144.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $140.00 price target on the stock, up previously from $135.00.
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.
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