Chevron Corporation’s (CVX) “Market Perform” Rating Reaffirmed at Wells Fargo & Company
Chevron Corporation (NYSE:CVX)‘s stock had its “market perform” rating reiterated by equities research analysts at Wells Fargo & Company in a report issued on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the company. BMO Capital Markets set a $120.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Scotiabank reaffirmed a “buy” rating and set a $113.00 target price on shares of Chevron Corporation in a research report on Friday, June 30th. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Saturday, June 24th. Citigroup Inc. lowered their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating for the company in a research report on Friday, July 21st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $119.66.
Chevron Corporation (NYSE CVX) traded up 0.37% during midday trading on Thursday, hitting $118.64. The stock had a trading volume of 4,924,257 shares. The company has a market capitalization of $224.82 billion, a PE ratio of 38.52 and a beta of 1.24. Chevron Corporation has a 52 week low of $99.87 and a 52 week high of $120.89. The company’s 50-day moving average price is $116.24 and its 200 day moving average price is $108.72.
Chevron Corporation (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business 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%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company earned ($0.78) EPS. On average, analysts expect that Chevron Corporation will post $4.08 EPS for the current year.
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In other news, Director Linnet F. Deily sold 2,312 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders have sold a total of 97,812 shares of company stock valued at $11,068,343 in the last quarter. Company insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Pathstone Family Office LLC boosted its stake in shares of Chevron Corporation by 2.5% in the 2nd 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 during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Chevron Corporation in the 2nd quarter worth approximately $106,000. Thompson Davis & CO. Inc. boosted its stake in shares of Chevron Corporation by 20.0% in the 1st 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 during the last quarter. Winfield Associates Inc. boosted its stake in shares of Chevron Corporation by 5.1% in the 2nd 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 during the last quarter. Finally, Daiwa SB Investments Ltd. boosted its stake in shares of Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 62.72% 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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