Chevron Corp. (CVX) Sets New 1-Year High at $105.00
Chevron Corp. (NYSE:CVX)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $105.00 and last traded at $103.16, with a volume of 3,026,792 shares traded. The stock had previously closed at $104.58.
A number of research firms recently commented on CVX. Vetr downgraded Chevron Corp. from a “buy” rating to a “hold” rating and set a $103.06 price objective on the stock. in a report on Tuesday, May 10th. Citigroup Inc. restated an “outperform” rating on shares of Chevron Corp. in a report on Friday, April 1st. Zacks Investment Research upgraded Chevron Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, March 15th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Chevron Corp. in a report on Wednesday, April 27th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $100.00 price target on shares of Chevron Corp. in a report on Thursday, June 2nd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seventeen have assigned a buy rating to the company. Chevron Corp. has a consensus rating of “Buy” and an average price target of $96.72.
The stock has a market capitalization of $197.46 billion and a PE ratio of 151.62. The company has a 50 day moving average price of $102.11 and a 200 day moving average price of $94.38.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, April 29th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.29. The business earned $23.53 billion during the quarter, compared to analysts’ expectations of $21.47 billion. During the same quarter last year, the company posted $1.37 earnings per share. Chevron Corp.’s quarterly revenue was down 31.9% on a year-over-year basis. Equities research analysts anticipate that Chevron Corp. will post $1.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Thursday, May 19th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date was Tuesday, May 17th.
In other Chevron Corp. news, Director Linnet F. Deily sold 869 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $103.27, for a total value of $89,741.63. Following the transaction, the director now directly owns 25,279 shares of the company’s stock, valued at approximately $2,610,562.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Other hedge funds recently added to or reduced their stakes in the company. Honeywell International Inc. raised its stake in Chevron Corp. by 12.8% in the fourth quarter. Honeywell International Inc. now owns 880,700 shares of the company’s stock valued at $79,228,000 after buying an additional 100,200 shares during the period. Intersect Capital LLC raised its stake in Chevron Corp. by 20.2% in the fourth quarter. Intersect Capital LLC now owns 25,151 shares of the company’s stock valued at $2,263,000 after buying an additional 4,226 shares during the period. Becker Capital Management Inc. raised its stake in Chevron Corp. by 3.1% in the fourth quarter. Becker Capital Management Inc. now owns 326,791 shares of the company’s stock valued at $29,398,000 after buying an additional 9,817 shares during the period. Texan Capital Management raised its stake in Chevron Corp. by 1.8% in the fourth quarter. Texan Capital Management now owns 13,160 shares of the company’s stock valued at $1,184,000 after buying an additional 229 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in Chevron Corp. by 1.9% in the fourth quarter. Eagle Asset Management Inc. now owns 617,553 shares of the company’s stock valued at $55,555,000 after buying an additional 11,770 shares during the period.
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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