CVX has been the subject of several other research reports. Vetr lowered shares of Chevron Corp. from a buy rating to a hold rating and set a $106.39 price objective for the company. in a research note on Monday, June 20th. Exane BNP Paribas started coverage on shares of Chevron Corp. in a research note on Monday. They issued a neutral rating and a $102.00 price objective for the company. Zacks Investment Research lowered shares of Chevron Corp. from a buy rating to a hold rating in a research note on Wednesday, August 3rd. Piper Jaffray Cos. raised shares of Chevron Corp. from a neutral rating to an overweight rating and raised their price objective for the company from $110.00 to $117.00 in a research note on Tuesday, August 9th. Finally, Jefferies Group reissued a buy rating and issued a $116.00 price objective (up previously from $114.00) on shares of Chevron Corp. in a research note on Wednesday, July 6th. Thirteen research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Chevron Corp. has an average rating of Buy and an average price target of $105.09.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.842% on Monday, reaching $103.105. 937,677 shares of the company’s stock were exchanged. The firm’s market capitalization is $194.51 billion. The firm has a 50 day moving average of $101.02 and a 200 day moving average of $101.21. Chevron Corp. has a one year low of $75.33 and a one year high of $107.58.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $1.10. Chevron Corp. had a negative net margin of 0.64% and a positive return on equity of 1.07%. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. Chevron Corp.’s revenue was down 27.4% on a year-over-year basis. On average, equities research analysts predict that Chevron Corp. will post $1.31 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a $1.07 dividend. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.12%. Chevron Corp.’s dividend payout ratio is presently -1,097.44%.
In related news, insider Michael K. Wirth sold 125,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $100.47, for a total value of $12,558,750.00. Following the sale, the insider now directly owns 4,222 shares in the company, valued at approximately $424,184.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pierre R. Breber sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total transaction of $2,074,170.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in CVX. Capital Research Global Investors raised its position in Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares during the period. Jarislowsky Fraser Ltd raised its position in Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock worth $221,830,000 after buying an additional 3,051,817 shares during the period. Vanguard Group Inc. raised its position in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock worth $13,087,581,000 after buying an additional 2,824,724 shares during the period. Emerald Acquisition Ltd. purchased a new position in Chevron Corp. during the second quarter worth about $227,457,000. Finally, BlackRock Fund Advisors raised its position in Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock worth $3,422,935,000 after buying an additional 1,983,103 shares during the period. Institutional investors and hedge funds 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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