Research Analysts’ Weekly Ratings Updates for Chevron (CVX)

Chevron (NYSE: CVX) recently received a number of ratings updates from brokerages and research firms:

  • 1/4/2018 – Chevron was downgraded by analysts at Bank of America Corp from a “buy” rating to a “neutral” rating. They now have a $125.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/27/2017 – Chevron was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $140.00 price target on the stock. According to Zacks, “Following outperformance in 3 of the last 4 quarters, shares of Chevron have risen 11.1% in the past year, outperforming the broader industry's 11%, while larger rival ExxonMobil has seen its scrip go down 2.6% over the same time period. The second-largest U.S. oil producer have been a beneficiary of the recovery in commodity prices and robust refining profits. More importantly, Chevron was able to cover its investment and payouts with cash from operations in the most recent quarter – something investors really want right now. Moreover, with increasing amounts of capital spending devoted to the lucrative Permian basin over the coming years, production from the region is expected to be strong. Consequently, we think Chevron offers substantial upside potential from the current price levels and view it as a preferred energy play to own now.”
  • 12/26/2017 – Chevron was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $134.35 price target on the stock.
  • 12/22/2017 – Chevron had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $130.00 price target on the stock.
  • 12/21/2017 – Chevron had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $160.00 price target on the stock, up previously from $122.00.
  • 12/20/2017 – Chevron was given a new $110.00 price target on by analysts at Royal Bank of Canada. They now have a “sell” rating on the stock.
  • 12/20/2017 – Chevron had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $140.00 price target on the stock.
  • 12/11/2017 – Chevron is now covered by analysts at Credit Suisse Group AG. They set a “neutral” rating and a $123.00 price target on the stock.
  • 12/4/2017 – Chevron was given a new $120.00 price target on by analysts at UBS Group AG. They now have a “neutral” rating on the stock.
  • 12/2/2017 – Chevron was given a new $125.00 price target on by analysts at Bank of America Corp. They now have a “buy” rating on the stock.
  • 11/20/2017 – Chevron was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “The second-largest U.S. oil producer have been a beneficiary of the recovery in commodity prices and robust refining profits. More importantly, Chevron was able to cover its investment and payouts with cash from operations in the most recent quarter – something investors really want right now. With crude prices firming and Chevron being one of the most oilweighted majors, the company's profits got an expected boost. Stronger refining margins also helped increase earnings. As it is, its current oil and gas development project pipeline is among the best in the industry, boasting large, multi-year projects. However, we remain worried over signs of headwind in Chevron's U.S. production. Chevron's exposure to production in the vulnerable and violence-prone regions in Nigeria poses additional risk. Hence, we advise investors to wait for a better entry point before buying shares in the oil major.”
  • 11/17/2017 – Chevron was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $129.00 price target on the stock. According to Zacks, “Chevron is one of the largest integrated energy firms in the world with an impressive business model. Importantly, during the most recent quarter, Chevron was able to cover its investment and payouts with cash from operations – something investors really want right now. With crude prices firming and Chevron being one of the most oil-weighted majors, the company's profits got an expected boost. Stronger refining margins also helped increase earnings. As it is, its current oil and gas development project pipeline is among the best in the industry, boasting large, multiyear projects. Consequently, we think Chevron offers substantial upside potential from the current price levels and view it as a preferred energy play to own now.”
  • 11/14/2017 – Chevron was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “The second-largest U.S. oil producer beat Q3 expectations amid the recovery in commodity prices and robust refining profits. More importantly, Chevron was able to cover its investment and payouts with cash from operations – something investors really want right now. With crude prices firming and Chevron being one of the most oilweighted majors, the company's profits got an expected boost. Stronger refining margins also helped increase earnings. As it is, its current oil and gas development project pipeline is among the best in the industry, boasting large, multi-year projects. However, we remain worried over signs of headwind in Chevron's U.S. production. Chevron's exposure to production in the vulnerable and violence-prone regions in Nigeria poses additional risk. Hence, we advise investors to wait for a better entry point before buying shares in the oil major.”
  • 11/10/2017 – Chevron was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $131.00 price target on the stock. According to Zacks, “Following the comprehensive Q3 beat, we are upgrading our investment thesis on Chevron to a 'Buy'. The second-largest U.S. oil producer beat expectations amid the recovery in commodity prices and robust refining profits. More importantly, Chevron was able to cover its investment and payouts with cash from operations – something investors really want right now. With crude prices firming and Chevron being one of the most oil-weighted majors, the company's profits got an expected boost. Stronger refining margins also helped increase earnings. As it is, its current oil and gas development project pipeline is among the best in the industry, boasting large, multiyear projects. Consequently, we think Chevron offers substantial upside potential from the current price levels and view it as a preferred energy play to own now.”

Shares of Chevron Corporation (CVX) traded down $0.29 on Friday, hitting $127.82. 3,240,581 shares of the stock traded hands, compared to its average volume of 5,343,434. Chevron Corporation has a 52 week low of $102.55 and a 52 week high of $128.94. The firm has a market cap of $242,930.00, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.01 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the prior year, the business posted $0.68 EPS. Chevron’s quarterly revenue was up 20.1% on a year-over-year basis. research analysts anticipate that Chevron Corporation will post 4.33 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.38%. Chevron’s dividend payout ratio (DPR) is 125.95%.

In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now directly owns 1,229 shares in the company, valued at approximately $145,022. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is currently owned by company insiders.

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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