Chevron Corporation (CVX) Earns “Buy” Rating from Scotiabank
Chevron Corporation (NYSE:CVX)‘s stock had its “buy” rating restated by stock analysts at Scotiabank in a report released on Friday.
Other equities analysts have also issued reports about the stock. Piper Jaffray Companies restated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BNP Paribas raised shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 target price for the company in a research note on Monday, August 7th. UBS AG set a $105.00 price target on Chevron Corporation and gave the company a “neutral” rating in a report on Wednesday, September 6th. Finally, TheStreet cut Chevron Corporation from a “b” rating to a “c+” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $116.40.
Chevron Corporation (NYSE:CVX) traded up 0.16% during trading on Friday, reaching $114.63. 8,387,623 shares of the company traded hands. The company has a market capitalization of $217.22 billion, a P/E ratio of 37.17 and a beta of 1.23. The firm has a 50-day moving average price of $109.46 and a 200-day moving average price of $107.20. Chevron Corporation has a 52 week low of $97.68 and a 52 week high of $119.00.
Chevron Corporation (NYSE:CVX) last announced 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 Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same quarter in the prior year, the firm posted ($0.78) earnings per share. Chevron Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
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In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James William Johnson sold 31,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,312 shares of company stock valued at $8,008,343. Company insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. W. E. Donoghue & Co. LLC acquired a new stake in shares of Chevron Corporation in the 2nd quarter valued at about $15,788,000. Intl Fcstone Inc. grew its stake in shares of Chevron Corporation by 133.6% in the 2nd quarter. Intl Fcstone Inc. now owns 33,875 shares of the oil and gas company’s stock valued at $3,534,000 after buying an additional 19,374 shares during the period. M Holdings Securities Inc. grew its stake in shares of Chevron Corporation by 65.5% in the 2nd quarter. M Holdings Securities Inc. now owns 23,996 shares of the oil and gas company’s stock valued at $2,504,000 after buying an additional 9,494 shares during the period. Griffin Asset Management Inc. acquired a new stake in shares of Chevron Corporation in the 2nd quarter valued at about $10,196,000. Finally, Aldebaran Financial Inc. grew its stake in shares of Chevron Corporation by 8.3% in the 2nd quarter. Aldebaran Financial Inc. now owns 15,651 shares of the oil and gas company’s stock valued at $1,633,000 after buying an additional 1,203 shares during the period. Institutional investors own 62.84% of the company’s stock.
About Chevron Corporation
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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