Chevron Corporation (CVX) Given Consensus Rating of “Buy” by Analysts
Shares of Chevron Corporation (NYSE:CVX) have been assigned an average recommendation of “Buy” from the twenty-seven research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $116.89.
A number of equities research analysts have commented on CVX shares. Macquarie lowered shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a report on Wednesday, June 21st. TheStreet raised shares of Chevron Corporation from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research note on Thursday, August 3rd. BidaskClub lowered shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, Vetr upgraded shares of Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.46 price target on the stock in a research report on Friday, April 14th.
In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the sale, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Pathstone Family Office LLC boosted its position in shares of Chevron Corporation by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after buying an additional 20 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Chevron Corporation during the second quarter valued at about $106,000. Thompson Davis & CO. Inc. raised its position in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Chevron Corporation during the fourth quarter valued at about $139,000. Finally, Winfield Associates Inc. raised its position in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the last quarter. 62.58% of the stock is currently owned by institutional investors.
Shares of Chevron Corporation (CVX) traded down 0.80% on Friday, reaching $109.23. 3,382,960 shares of the company’s stock traded hands. The company’s 50-day moving average is $105.87 and its 200-day moving average is $107.79. The firm has a market capitalization of $206.99 billion, a P/E ratio of 35.42 and a beta of 1.23. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the company posted ($0.78) EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts anticipate that Chevron Corporation will post $3.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.95%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
Chevron Corporation Company Profile
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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