Shares of Chevron Corp. (NYSE:CVX) have been given a consensus recommendation of “Buy” by the thirty-two research firms that are covering the company. Thirteen investment analysts have rated the stock with a hold recommendation and nineteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $103.07.
Several research analysts have recently commented on CVX shares. Jefferies Group restated a “buy” rating and set a $116.00 price target (up from $114.00) on shares of Chevron Corp. in a research report on Wednesday, July 6th. Credit Suisse Group AG restated a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. BMO Capital Markets began coverage on Chevron Corp. in a report on Monday, September 12th. They issued an “outperform” rating and a $120.00 target price for the company. Finally, Piper Jaffray Cos. upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $110.00 to $117.00 in a report on Tuesday, August 9th.
Shares of Chevron Corp. (NYSE:CVX) opened at 99.22 on Wednesday. The stock’s market cap is $187.18 billion. Chevron Corp. has a 1-year low of $75.28 and a 1-year high of $107.58. The firm’s 50-day moving average price is $101.07 and its 200 day moving average price is $100.56.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s quarterly revenue was down 27.4% on a year-over-year basis. On average, equities analysts expect that Chevron Corp. will post $1.29 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.31%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
In other Chevron Corp. news, Director Inge G. Thulin purchased 487 shares of the business’s stock in a transaction on Monday, August 15th. The stock was bought at an average cost of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James William Johnson sold 10,945 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $101.44, for a total value of $1,110,260.80. Following the completion of the transaction, the insider now owns 13,000 shares of the company’s stock, valued at $1,318,720. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First American Trust FSB increased its position in shares of Chevron Corp. by 12.5% in the first quarter. First American Trust FSB now owns 46,098 shares of the company’s stock valued at $4,398,000 after buying an additional 5,104 shares during the period. West Oak Capital LLC increased its position in shares of Chevron Corp. by 9.0% in the first quarter. West Oak Capital LLC now owns 21,328 shares of the company’s stock valued at $2,035,000 after buying an additional 1,765 shares during the period. Stock Yards Bank & Trust Co. increased its position in shares of Chevron Corp. by 5.6% in the first quarter. Stock Yards Bank & Trust Co. now owns 179,640 shares of the company’s stock valued at $17,138,000 after buying an additional 9,485 shares during the period. CT Financial Advisors LLC increased its position in shares of Chevron Corp. by 4.6% in the first quarter. CT Financial Advisors LLC now owns 12,844 shares of the company’s stock valued at $1,225,000 after buying an additional 559 shares during the period. Finally, Trust Co. of Virginia VA increased its position in shares of Chevron Corp. by 1.7% in the first quarter. Trust Co. of Virginia VA now owns 73,890 shares of the company’s stock valued at $7,049,000 after buying an additional 1,229 shares during the period. Institutional investors own 62.24% of the company’s stock.
About Chevron Corp.
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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