Chevron Corp. (CVX) Sets New 12-Month High at $107.58
Shares of Chevron Corp. (NYSE:CVX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $107.58 and last traded at $106.85, with a volume of 2,269,008 shares trading hands. The stock had previously closed at $106.65.
A number of analysts recently issued reports on CVX shares. Simmons lifted their price objective on Chevron Corp. to $84.00 in a research report on Friday, March 25th. Citigroup Inc. reissued an “outperform” rating on shares of Chevron Corp. in a research report on Friday, April 1st. Vetr raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $99.90 price objective for the company in a research report on Thursday, March 31st. Goldman Sachs Group Inc. lifted their price objective on Chevron Corp. from $94.00 to $96.00 and gave the company a “neutral” rating in a research report on Friday, March 18th. Finally, Raymond James Financial Inc. cut Chevron Corp. from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 22nd. Fourteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Chevron Corp. presently has an average rating of “Buy” and an average target price of $97.66.
The firm has a 50-day moving average of $102.99 and a 200-day moving average of $94.90. The company has a market capitalization of $201.72 billion and a PE ratio of 154.89.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, April 29th. The company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.29. During the same quarter in the prior year, the company posted $1.37 earnings per share. The business had revenue of $23.53 billion for the quarter, compared to analysts’ expectations of $21.47 billion. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. On average, equities analysts expect that Chevron Corp. will post $1.45 earnings per share for the current fiscal year.
In other Chevron Corp. news, Director Linnet F. Deily sold 869 shares of the stock in a transaction dated Monday, May 2nd. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds and institutional investors have made changes to their positions in CVX. Flippin Bruce & Porter Inc. boosted its position in shares of Chevron Corp. by 0.3% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 61,895 shares of the company’s stock valued at $5,568,000 after buying an additional 179 shares in the last quarter. Morningstar Investment Services LLC boosted its position in shares of Chevron Corp. by 6.3% in the fourth quarter. Morningstar Investment Services LLC now owns 345,828 shares of the company’s stock valued at $31,111,000 after buying an additional 20,634 shares in the last quarter. Ashburton Jersey Ltd acquired a new position in shares of Chevron Corp. during the fourth quarter valued at approximately $2,215,000. Foresters Investment Management Company Inc. boosted its position in shares of Chevron Corp. by 8.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 154,100 shares of the company’s stock valued at $13,863,000 after buying an additional 11,800 shares in the last quarter. Finally, Home Federal Bank of Tennessee acquired a new position in shares of Chevron Corp. during the fourth quarter valued at approximately $1,508,000.
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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