Chevron Corp. (NYSE:CVX) Receives Consensus Recommendation of “Buy” from Analysts
Chevron Corp. (NYSE:CVX) has earned an average rating of “Buy” from the thirty-two analysts that are covering the stock. Thirteen analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $103.07.
Several research analysts have commented on CVX shares. Jefferies Group reaffirmed a “buy” rating and set a $116.00 price objective (up from $114.00) on shares of Chevron Corp. in a research note on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “neutral” rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Barclays PLC reaffirmed an “equal weight” rating and set a $125.00 price objective on shares of Chevron Corp. in a research note on Thursday, July 28th. BMO Capital Markets started coverage on shares of Chevron Corp. in a research note on Monday, September 12th. They set an “outperform” rating and a $120.00 price objective for the company. Finally, Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $117.00 in a research note on Tuesday, August 9th.
In other news, insider Michael K. Wirth sold 125,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.47, for a total transaction of $12,558,750.00. Following the transaction, the insider now owns 4,222 shares in the company, valued at approximately $424,184.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pierre R. Breber sold 21,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $98.77, for a total value of $2,074,170.00. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
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Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Thompson Davis & CO. Inc. increased its position in Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock valued at $100,000 after buying an additional 729 shares in the last quarter. RPg Family Wealth Advisory LLC increased its position in Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock valued at $101,000 after buying an additional 134 shares in the last quarter. Global X Management Co. LLC increased its position in Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock valued at $121,000 after buying an additional 621 shares in the last quarter. Camarda Financial Advisors LLC purchased a new position in Chevron Corp. during the second quarter valued at approximately $122,000. Finally, Wealthcare Capital Management LLC purchased a new position in Chevron Corp. during the second quarter valued at approximately $128,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Shares of Chevron Corp. (NYSE:CVX) traded up 1.08% on Wednesday, hitting $98.76. 2,954,840 shares of the company traded hands. The firm’s market capitalization is $186.31 billion. The firm’s 50-day moving average is $101.12 and its 200 day moving average is $100.50. Chevron Corp. has a 1-year low of $75.10 and a 1-year high of $107.58.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. The firm had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. On average, analysts anticipate that Chevron Corp. will post $1.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.38%. Chevron Corp.’s dividend payout ratio (DPR) is -1,097.44%.
Chevron Corp. Company Profile
Chevron Corporation (Chevron) 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 integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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