Chevron (NYSE:CVX) Research Coverage Started at Barclays

Barclays assumed coverage on shares of Chevron (NYSE:CVX) in a research note issued to investors on Wednesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $203.00 target price on the oil and gas company’s stock.

Several other equities research analysts have also recently weighed in on CVX. Royal Bank of Canada increased their price objective on Chevron from $185.00 to $190.00 and gave the company an outperform rating in a research report on Monday, February 5th. DZ Bank lowered Chevron from a buy rating to a hold rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the company a buy rating in a research note on Tuesday. Scotiabank lowered Chevron from a sector outperform rating to a sector perform rating and set a $170.00 target price for the company. in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group restated a buy rating on shares of Chevron in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $182.35.

Chevron Stock Up 0.4 %

CVX opened at $162.60 on Wednesday. Chevron has a 1-year low of $139.62 and a 1-year high of $172.88. The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $301.99 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 2.44 and a beta of 1.12. The business has a 50 day moving average of $154.51 and a 200-day moving average of $152.25.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same period in the prior year, the business earned $4.09 earnings per share. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron will post 13.19 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, February 15th. Chevron’s dividend payout ratio is currently 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management bought a new position in Chevron in the third quarter valued at about $26,000. Bare Financial Services Inc bought a new position in Chevron in the fourth quarter valued at about $27,000. Valley Forge Investment Consultants Inc. ADV boosted its holdings in Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Chevron in the fourth quarter valued at about $30,000. Finally, Valued Wealth Advisors LLC bought a new position in Chevron in the fourth quarter valued at about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

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