Chevron Corp. (CVX) Stock Rating Reaffirmed by Barclays PLC
Chevron Corp. (NYSE:CVX)‘s stock had its “equal weight” rating reiterated by analysts at Barclays PLC in a report issued on Monday. They presently have a $125.00 price objective on the stock. Barclays PLC’s price objective indicates a potential upside of 20.22% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the company. Exane BNP Paribas initiated coverage on Chevron Corp. in a report on Monday. They set a “neutral” rating and a $102.00 price target for the company. Vetr upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price target for the company in a report on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a report on Thursday, September 8th. Zacks Investment Research cut Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, BMO Capital Markets initiated coverage on Chevron Corp. in a report on Monday, September 12th. They set an “outperform” rating and a $120.00 price target for the company. Thirteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron Corp. currently has an average rating of “Buy” and a consensus price target of $105.39.
Chevron Corp. (NYSE:CVX) traded up 1.67% during trading on Monday, reaching $103.98. The company’s stock had a trading volume of 5,982,741 shares. The stock’s market capitalization is $196.16 billion. The stock has a 50 day moving average price of $101.02 and a 200 day moving average price of $101.21. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58.
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Chevron Corp. (NYSE:CVX) last issued its earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The company earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The firm’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.30 earnings per share. Analysts anticipate that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.12%. Chevron Corp.’s dividend payout ratio (DPR) 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 that occurred on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Inge G. Thulin bought 487 shares of the stock in a transaction on Monday, August 15th. The stock was bought at an average price of $102.87 per share, for a total transaction of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock valued at $13,087,581,000 after buying an additional 2,824,724 shares in the last quarter. State Street Corp boosted its stake in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock valued at $10,513,045,000 after buying an additional 1,318,854 shares in the last quarter. FMR LLC boosted its stake in Chevron Corp. by 0.5% in the second quarter. FMR LLC now owns 49,878,624 shares of the company’s stock valued at $5,228,775,000 after buying an additional 250,410 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Chevron Corp. by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 49,644,363 shares of the company’s stock valued at $4,736,072,000 after buying an additional 987,259 shares in the last quarter. Finally, Capital World Investors boosted its stake in Chevron Corp. by 0.8% in the second quarter. Capital World Investors now owns 40,135,747 shares of the company’s stock valued at $4,207,430,000 after buying an additional 321,100 shares in the last quarter. 62.24% of the stock is owned by institutional investors and hedge funds.
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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