BNP Paribas upgraded shares of Chevron (NYSE:CVX) from an underperform rating to a neutral rating in a research note released on Friday, Marketbeat Ratings reports.
CVX has been the subject of several other research reports. Royal Bank of Canada set a $110.00 price objective on Chevron and gave the company a sell rating in a report on Wednesday, December 20th. Wells Fargo & Co decreased their price objective on Chevron from $125.00 to $125.00 and set an outperform rating for the company in a report on Monday, February 5th. Zacks Investment Research raised Chevron from a hold rating to a buy rating and set a $129.00 price objective for the company in a report on Friday, November 17th. HSBC cut Chevron from a buy rating to a hold rating in a report on Thursday, January 18th. Finally, Societe Generale raised Chevron from a hold rating to a buy rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $129.68.
Shares of Chevron (CVX) opened at $114.60 on Friday. Chevron has a 52-week low of $102.55 and a 52-week high of $133.88. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.83 and a current ratio of 1.03. The company has a market capitalization of $215,075.39, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.23 and a beta of 1.15.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.12 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 3.91%. Chevron’s dividend payout ratio is presently 92.37%.
In related news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently bought and sold shares of the business. Korea Investment CORP increased its stake in Chevron by 5.1% during the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after buying an additional 72,173 shares in the last quarter. Numeric Investors LLC grew its position in shares of Chevron by 158.4% in the second quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after purchasing an additional 32,000 shares in the last quarter. Palisade Asset Management LLC grew its position in shares of Chevron by 20.5% in the second quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after purchasing an additional 18,541 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Chevron by 24.7% in the second quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after purchasing an additional 130,990 shares in the last quarter. Finally, Perpetual Ltd grew its position in shares of Chevron by 6.8% in the second quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock valued at $2,297,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 64.10% 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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