Chevron (NYSE:CVX) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Chevron (NYSE:CVX) from a hold rating to a strong-buy rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on CVX. Wells Fargo & Company boosted their target price on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Morgan Stanley upped their price objective on Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Mizuho boosted their price target on Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $166.16.

Chevron Stock Performance

Chevron stock opened at $151.58 on Monday. The stock has a fifty day moving average price of $153.61 and a 200 day moving average price of $151.43. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market capitalization of $305.20 billion, a P/E ratio of 21.32, a PEG ratio of 9.02 and a beta of 0.68. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the business earned $2.48 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Chevron will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 96.20%.

Insider Activity

In related news, Director John B. Hess sold 275,000 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the sale, the director directly owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

Institutional Trading of Chevron

Large investors have recently bought and sold shares of the company. Solitude Financial Services raised its holdings in Chevron by 8.2% during the second quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after purchasing an additional 1,913 shares in the last quarter. Shell Asset Management Co. boosted its stake in Chevron by 21.4% during the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares in the last quarter. Mutual Advisors LLC increased its position in shares of Chevron by 7.3% during the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock valued at $13,743,000 after purchasing an additional 6,058 shares during the period. Costello Asset Management INC raised its stake in shares of Chevron by 26.9% in the 2nd quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after buying an additional 3,541 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Chevron by 25.7% in the first quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock valued at $115,887,000 after buying an additional 142,662 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.