Weekly Analysts’ Ratings Updates for Chevron (CVX)

A number of firms have modified their ratings and price targets on shares of Chevron (NYSE: CVX) recently:

  • 3/6/2019 – Chevron was upgraded by analysts at Royal Bank of Canada to a “sector perform” rating. They now have a $145.00 price target on the stock.
  • 3/6/2019 – Chevron had its price target raised by analysts at Barclays PLC from $140.00 to $150.00. They now have an “overweight” rating on the stock. They wrote, “We reiterate our OW rating and raise our PT to $150.””
  • 3/6/2019 – Chevron had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $140.00 price target on the stock.
  • 3/1/2019 – Chevron is now covered by analysts at Tudor Pickering. They set a “buy” rating and a $133.00 price target on the stock.
  • 2/28/2019 – Chevron had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $140.00 price target on the stock, down previously from $160.00.
  • 2/2/2019 – Chevron was given a new $135.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
  • 1/29/2019 – Chevron was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Chevron's financial results greatly improved over the past few quarters, aided by surging production and higher realizations. The company’s existing oil and gas development project pipeline is among the best in the industry, targeting volume growth of around 7% in 2018 thanks to planned expansion in the Permian Basin. The oil supermajor pumped 80% more out of the West Texas shale play in the third quarter compared with the same period last year, with production set to soar in coming years. Chevron recently announced first oil from the Big Foot project in the GoM, which should offer further production upside in the near-term. However, there are worries over drop in its downstream earnings due to weak international margins that once again cut into overall gains from rising E&P income. Hence, investors are advised to wait for a better entry point before buying shares in Chevron.”
  • 1/23/2019 – Chevron had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $130.00 price target on the stock.
  • 1/18/2019 – Chevron was upgraded by analysts at UBS Group AG from a “neutral” rating to a “buy” rating. They now have a $112.95 price target on the stock.
  • 1/14/2019 – Chevron was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating. They now have a $122.00 price target on the stock, down previously from $136.00.

Shares of CVX opened at $124.60 on Friday. The stock has a market cap of $236.88 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 3.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.04 and a current ratio of 1.25. Chevron Co. has a fifty-two week low of $100.22 and a fifty-two week high of $131.08.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $42.35 billion for the quarter, compared to the consensus estimate of $41.46 billion. Chevron had a return on equity of 9.78% and a net margin of 8.91%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. On average, analysts expect that Chevron Co. will post 6.63 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 15th were given a dividend of $1.19 per share. This is an increase from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 annualized dividend and a yield of 3.82%. The ex-dividend date was Thursday, February 14th. Chevron’s dividend payout ratio (DPR) is currently 57.70%.

In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $112.20, for a total transaction of $532,950.00. Following the sale, the insider now directly owns 4,750 shares of the company’s stock, valued at approximately $532,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $116.50, for a total value of $838,800.00. Following the sale, the insider now directly owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of CVX. Oregon Public Employees Retirement Fund grew its position in shares of Chevron by 10,867.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 55,998,891 shares of the oil and gas company’s stock valued at $515,000 after acquiring an additional 55,488,319 shares during the period. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter valued at about $2,131,241,000. Capital International Investors grew its position in shares of Chevron by 157.4% during the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock valued at $2,905,102,000 after acquiring an additional 14,528,219 shares during the period. BlackRock Inc. grew its position in shares of Chevron by 5.2% during the 4th quarter. BlackRock Inc. now owns 127,839,017 shares of the oil and gas company’s stock valued at $13,907,606,000 after acquiring an additional 6,328,133 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Chevron by 320.3% during the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after acquiring an additional 2,175,800 shares during the period. Hedge funds and other institutional investors own 64.75% of the company’s stock.

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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