Chevron Price Target Raised to $140.00 at Oppenheimer (CVX)
Equities research analysts at Oppenheimer boosted their price target on shares of Chevron (NYSE:CVX) from $130.00 to $140.00 in a research note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 9.77% from the stock’s previous close.
Several other analysts have also recently commented on the stock. 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. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $137.14.
Shares of Chevron (NYSE:CVX) traded down 1.48% on Tuesday, hitting $127.54. 4,744,496 shares of the company’s stock traded hands. Chevron has a one year low of $109.27 and a one year 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 $242.2 billion and a price-to-earnings ratio of 12.36.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The company reported $2.98 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $2.77 earnings per share. On average, analysts predict that Chevron will post $10.73 earnings per share 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 3.36%. 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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