Chevron Corp. (CVX) Receives New Coverage from Analysts at Exane BNP Paribas
Equities researchers at Exane BNP Paribas assumed coverage on shares of Chevron Corp. (NYSE:CVX) in a research report issued to clients and investors on Monday. The firm set a “neutral” rating and a $102.00 price target on the stock. Exane BNP Paribas’ target price would indicate a potential downside of 1.90% from the stock’s previous close.
CVX has been the topic of several other research reports. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price objective on the stock in a research note on Monday, October 3rd. Vetr raised Chevron Corp. from a “buy” rating to a “strong-buy” rating and set a $119.79 price objective on the stock in a research note on Wednesday, September 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $117.00 price objective on shares of Chevron Corp. in a research note on Monday, September 26th. Credit Suisse Group AG reissued a “neutral” rating on shares of Chevron Corp. in a research note on Tuesday, September 6th. Finally, Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a research note on Friday, August 5th. Thirteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $105.39.
Chevron Corp. (NYSE:CVX) traded up 1.67% on Monday, hitting $103.98. The stock had a trading volume of 5,982,646 shares. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $107.58. The company has a 50-day moving average price of $100.97 and a 200 day moving average price of $101.05. The firm’s market cap is $196.16 billion.
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Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm earned $29.28 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period last year, the company earned $0.30 EPS. The firm’s revenue for the quarter was down 27.4% compared to the same quarter last year. Equities analysts forecast that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid 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 4.12%. Chevron Corp.’s payout ratio is currently -1,097.44%.
In other Chevron Corp. news, insider Pierre R. Breber sold 21,000 shares of Chevron Corp. stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total transaction of $2,074,170.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the sale, the insider now owns 4,222 shares in the company, valued at $424,184.34. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. boosted its stake in Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock worth $100,000 after buying an additional 729 shares during the period. RPg Family Wealth Advisory LLC boosted its stake 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 worth $101,000 after buying an additional 134 shares during the period. Global X Management Co. LLC boosted its stake 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 worth $121,000 after buying an additional 621 shares during the period. Camarda Financial Advisors LLC acquired a new stake in Chevron Corp. during the second quarter worth approximately $122,000. Finally, Wealthcare Capital Management LLC acquired a new stake in Chevron Corp. during the second quarter worth approximately $128,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
About Chevron Corp.
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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