Analysts’ Weekly Ratings Changes for Chevron Corporation (CVX)

A number of firms have modified their ratings and price targets on shares of Chevron Corporation (NYSE: CVX) recently:

  • 8/7/2017 – Chevron Corporation was upgraded by analysts at BNP Paribas from an “underperform” rating to a “neutral” rating. They now have a $105.00 price target on the stock.
  • 8/3/2017 – Chevron Corporation was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Following the comprehensive Q2 beat, we are upgrading our investment thesis on Chevron to a 'Hold'. The second-largest U.S. oil producer beat expectations amid the recovery in commodity prices, production gains and the success of its cost savings initiatives. Following outperformance in 3 of the last 4 quarters, shares of Chevron have risen +10% in the past year, outperforming the broader industry's +5%, while larger rival ExxonMobil has seen its scrip go down -8% over the same time period. However, with oil testing the psychologically-critical $50 threshold again, the near-to-medium term revenue outlook for Chevron – one of the most oil weighted majors – remains cloudy. Moreover, Chevron is still outspending its cash flow, making it dependent on asset sales. Hence, we advise investors to wait for a better entry point before buying shares in the oil major.”
  • 8/3/2017 – Chevron Corporation had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 8/1/2017 – Chevron Corporation was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/31/2017 – Chevron Corporation was given a new $115.00 price target on by analysts at Scotiabank. They now have a “buy” rating on the stock.
  • 7/30/2017 – Chevron Corporation was given a new $120.00 price target on by analysts at BMO Capital Markets. They now have a “buy” rating on the stock.
  • 7/28/2017 – Chevron Corporation was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 7/24/2017 – Chevron Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/21/2017 – Chevron Corporation had its price target lowered by analysts at Citigroup Inc. from $129.00 to $118.00. They now have a “buy” rating on the stock.
  • 7/17/2017 – Chevron Corporation was downgraded by analysts at Wolfe Research from an “outperform” rating to a “market perform” rating.
  • 7/17/2017 – Chevron Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “For more than three years, Chevron has seen its stock price decline precipitously, as the commodity downturn has taken its toll on the entire industry. Since July 2014, shares of the No. 2 U.S. energy producer have dived 20% – a significant fall considering its status as a ‘traditionally defensive stock’. Consequently, with oil and natural gas prices collapsing, the U.S. energy major’s upstream division’s revenues, earnings and cash flows have taken a beating. Moreover, Chevron is still outspending its cash flow, making it dependent on asset sales. In the wake of weak industry sentiment and apprehensions of more punishing times ahead with future cash flows drying up, we see little reason for investors to hold the stock.”
  • 7/17/2017 – Chevron Corporation was downgraded by analysts at Wells Fargo & Company to an “outperform” rating. They now have a $102.00 price target on the stock, down previously from $124.00.
  • 7/12/2017 – Chevron Corporation had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $125.00 price target on the stock, up previously from $116.00.
  • 7/6/2017 – Chevron Corporation was downgraded by analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating. They now have a $100.00 price target on the stock, down previously from $112.00.
  • 7/6/2017 – Chevron Corporation had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $100.00 price target on the stock, down previously from $107.00.
  • 7/5/2017 – Chevron Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/30/2017 – Chevron Corporation had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $113.00 price target on the stock.
  • 6/24/2017 – Chevron Corporation was given a new $135.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 6/23/2017 – Chevron Corporation was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 6/22/2017 – Chevron Corporation was given a new $130.00 price target on by analysts at BMO Capital Markets. They now have a “buy” rating on the stock.
  • 6/21/2017 – Chevron Corporation was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating. They now have a $105.00 price target on the stock.
  • 6/15/2017 – Chevron Corporation was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $120.37 price target on the stock.
  • 6/13/2017 – Chevron Corporation was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

Chevron Corporation (NYSE CVX) traded down 0.70% during midday trading on Thursday, reaching $110.11. The company’s stock had a trading volume of 4,950,662 shares. The stock has a market capitalization of $208.66 billion, a PE ratio of 35.70 and a beta of 1.23. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The firm’s 50-day moving average price is $105.71 and its 200-day moving average price is $107.78.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.78) EPS. On average, analysts anticipate that Chevron Corporation will post $3.80 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.92%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.

In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

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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