Chevron Co. (CVX) Receives Consensus Rating of “Buy” from Analysts
Shares of Chevron Co. (NYSE:CVX) have been assigned an average rating of “Buy” from the twenty-two ratings firms that are currently covering the firm. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $121.68.
CVX has been the subject of a number of recent research reports. TheStreet upgraded Chevron from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Wells Fargo & Co reiterated a “market perform” rating on shares of Chevron in a research note on Sunday, January 29th. Vetr upgraded Chevron from a “buy” rating to a “strong-buy” rating and set a $120.46 price objective for the company in a research note on Friday, April 14th. Scotiabank set a $114.00 price objective on Chevron and gave the stock a “buy” rating in a research note on Monday, March 27th. Finally, Bank of America Corp reiterated a “buy” rating and set a $135.00 price objective (down from $145.00) on shares of Chevron in a research note on Thursday, May 11th.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Chevron by 1.0% in the third quarter. Northern Trust Corp now owns 25,401,354 shares of the oil and gas company’s stock valued at $2,614,308,000 after buying an additional 261,621 shares in the last quarter. Kentucky Retirement Systems bought a new position in shares of Chevron during the fourth quarter valued at $16,123,000. Concorde Asset Management LLC boosted its position in shares of Chevron by 479.4% in the third quarter. Concorde Asset Management LLC now owns 14,590 shares of the oil and gas company’s stock valued at $1,497,000 after buying an additional 12,072 shares in the last quarter. First Midwest Bank Trust Division boosted its position in shares of Chevron by 2.3% in the third quarter. First Midwest Bank Trust Division now owns 70,718 shares of the oil and gas company’s stock valued at $7,278,000 after buying an additional 1,594 shares in the last quarter. Finally, Intrust Bank NA boosted its position in shares of Chevron by 5.3% in the third quarter. Intrust Bank NA now owns 29,529 shares of the oil and gas company’s stock valued at $3,040,000 after buying an additional 1,494 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.
Shares of Chevron (NYSE:CVX) traded down 0.37% during mid-day trading on Friday, hitting $104.72. 3,752,105 shares of the company were exchanged. The stock has a market cap of $198.40 billion, a PE ratio of 67.96 and a beta of 1.22. The stock’s 50-day moving average price is $106.33 and its 200 day moving average price is $110.86. Chevron has a 12-month low of $97.53 and a 12-month high of $119.00.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 28th. The oil and gas company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.56. The business had revenue of $33.42 billion during the quarter, compared to analyst estimates of $34.05 billion. Chevron had a positive return on equity of 1.26% and a negative net margin of 0.43%. Chevron’s revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.39) earnings per share. On average, equities analysts anticipate that Chevron will post $4.43 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 19th will be paid a dividend of $1.08 per share. The ex-dividend date is Wednesday, May 17th. This represents a $4.32 annualized dividend and a dividend yield of 4.13%. Chevron’s dividend payout ratio is currently -1,600.00%.
Chevron 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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