Chevron (NYSE:CVX – Free Report) had its price objective trimmed by Mizuho from $215.00 to $195.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.
A number of other brokerages also recently weighed in on CVX. Royal Bank of Canada reiterated an outperform rating and set a $180.00 price target on shares of Chevron in a report on Tuesday, October 24th. Truist Financial cut their target price on Chevron from $175.00 to $169.00 and set a hold rating on the stock in a research note on Tuesday, October 24th. The Goldman Sachs Group raised Chevron from a neutral rating to a buy rating and lifted their price target for the stock from $166.00 to $187.00 in a research report on Monday, July 31st. Sanford C. Bernstein raised shares of Chevron from a market perform rating to an outperform rating and cut their price objective for the company from $184.00 to $182.00 in a research report on Thursday, November 2nd. Finally, Morgan Stanley decreased their target price on shares of Chevron from $203.00 to $201.00 and set an equal weight rating for the company in a report on Tuesday, October 17th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of Moderate Buy and a consensus price target of $187.89.
Chevron Trading Up 1.9 %
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a net margin of 12.11% and a return on equity of 16.15%. The firm had revenue of $54.08 billion for the quarter, compared to analyst estimates of $51.41 billion. During the same period in the previous year, the business posted $5.56 earnings per share. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. Equities research analysts forecast that Chevron will post 13.59 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Thursday, November 16th. Chevron’s payout ratio is currently 44.84%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after buying an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC increased its stake in Chevron by 25.2% in the first quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after purchasing an additional 1,476 shares during the period. GQG Partners LLC lifted its position in shares of Chevron by 4.7% during the first quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock worth $6,598,000 after purchasing an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC boosted its stake in shares of Chevron by 43.5% during the first quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 1,770 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock worth $336,830,000 after purchasing an additional 250,840 shares during the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.
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