Chevron Corporation (CVX) Given “Sell” Rating at Royal Bank Of Canada
Chevron Corporation (NYSE:CVX)‘s stock had its “sell” rating reiterated by analysts at Royal Bank Of Canada in a research report issued on Friday. They presently have a $100.00 target price on the oil and gas company’s stock. Royal Bank Of Canada’s price objective points to a potential downside of 6.09% from the company’s previous close.
Several other research firms have also issued reports on CVX. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BNP Paribas raised Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research note on Monday, August 7th. BidaskClub raised Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $116.80.
Chevron Corporation (NYSE:CVX) traded up 0.53% during trading on Friday, hitting $106.48. The stock had a trading volume of 5,467,369 shares. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The stock has a market capitalization of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23. The company has a 50-day moving average of $106.43 and a 200-day moving average of $107.47.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.78) earnings per share. On average, equities analysts expect that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.
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In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the sale, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the sale, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Pathstone Family Office LLC raised its stake in shares of Chevron Corporation by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron Corporation during the second quarter worth $106,000. Thompson Davis & CO. Inc. raised its stake in shares of Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Chevron Corporation during the fourth quarter worth $139,000. Finally, Winfield Associates Inc. raised its stake in shares of Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
Chevron Corporation 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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