Investment analysts at Exane BNP Paribas started coverage on shares of Chevron Corp. (NYSE:CVX) in a research note issued on Monday. The firm set a “neutral” rating and a $102.00 price target on the stock. Exane BNP Paribas’ target price indicates a potential downside of 1.90% from the stock’s previous close.
Other analysts have also issued reports about the company. Vetr raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 target price on the stock in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Zacks Investment Research raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Tuesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Thirteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $105.39.
Chevron Corp. (NYSE:CVX) traded up 1.67% during mid-day trading on Monday, reaching $103.98. The company’s stock had a trading volume of 5,982,646 shares. The company’s market cap is $196.16 billion. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $107.58. The firm’s 50 day moving average is $100.97 and its 200-day moving average is $101.05.
Chevron Corp. (NYSE:CVX) last posted its 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. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s revenue was down 27.4% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. Equities analysts anticipate that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 dividend on an annualized basis and a yield of 4.12%. Chevron Corp.’s dividend payout ratio (DPR) is presently -1,097.44%.
In related news, insider Jeanette L. Ourada sold 7,000 shares of Chevron Corp. stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $101.70, for a total value of $711,900.00. Following the completion of the transaction, the insider now directly owns 7,535 shares in the company, valued at $766,309.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Inge G. Thulin bought 487 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was bought at an average price of $102.87 per share, with a total value of $50,097.69. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Thompson Davis & CO. Inc. increased its stake in shares of Chevron Corp. by 322.6% in the second quarter. Thompson Davis & CO. Inc. now owns 955 shares of the company’s stock worth $100,000 after buying an additional 729 shares during the period. RPg Family Wealth Advisory LLC increased its stake in shares of Chevron Corp. by 14.5% in the first quarter. RPg Family Wealth Advisory LLC now owns 1,058 shares of the company’s stock worth $101,000 after buying an additional 134 shares during the period. Global X Management Co. LLC increased its stake in shares of Chevron Corp. by 115.6% in the second quarter. Global X Management Co. LLC now owns 1,158 shares of the company’s stock worth $121,000 after buying an additional 621 shares during the period. Camarda Financial Advisors LLC acquired a new stake in shares of Chevron Corp. during the second quarter worth about $122,000. Finally, Wealthcare Capital Management LLC acquired a new stake in shares of Chevron Corp. during the second quarter worth about $128,000. Hedge funds and other institutional investors own 62.24% of the company’s stock.
Chevron Corp. 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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