Chevron Given Average Rating of “Buy” by Analysts (NYSE:CVX)
Shares of Chevron (NYSE:CVX) have earned a consensus recommendation of “Buy” from the sixteen analysts that are covering the company, Analyst Ratings Net reports. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $136.43.
A number of research firms have recently commented on CVX. Analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Tuesday, August 26th. 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.
Shares of Chevron (NYSE:CVX) opened at 129.45 on Thursday. Chevron has a 52 week low of $109.27 and a 52 week high of $135.10. The stock’s 50-day moving average is $129.0 and its 200-day moving average is $123.6. The company has a market cap of $245.8 billion and a price-to-earnings ratio of 12.29.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The company reported $2.98 EPS for the quarter, beating the Thomson Reuters 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. Shareholders 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 3.31%. The ex-dividend date of this dividend is Friday, August 15th.
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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