Chevron (CVX) Upgraded to Buy at Vetr

Vetr upgraded shares of Chevron (NYSE:CVX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $117.38 target price on the oil and gas company’s stock.

Other research analysts have also recently issued research reports about the company. DZ Bank raised Chevron from a hold rating to a buy rating in a research note on Wednesday, March 7th. Bank of America cut Chevron from a buy rating to a neutral rating and set a $125.00 price objective on the stock. in a research note on Thursday, January 4th. They noted that the move was a valuation call. Societe Generale raised Chevron from a hold rating to a buy rating in a research note on Friday, February 2nd. Wells Fargo dropped their price objective on Chevron from $125.00 to $125.00 and set an outperform rating on the stock in a research note on Monday, February 5th. Finally, UBS set a $120.00 price objective on Chevron and gave the stock a neutral rating in a research note on Monday, December 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $129.79.

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CVX opened at $114.76 on Tuesday. The company has a market cap of $218,685.78, a PE ratio of 31.02, a price-to-earnings-growth ratio of 2.25 and a beta of 1.16. Chevron has a one year low of $102.55 and a one year high of $133.88. The company has a current ratio of 1.03, a quick ratio of 0.83 and a debt-to-equity ratio of 0.22.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.54). The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.22%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.22 EPS. equities research analysts predict that Chevron will post 6.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is 121.08%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Earnest Partners LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $114,000. Virtue Capital Management LLC purchased a new stake in shares of Chevron during the 4th quarter valued at $128,000. Acrospire Investment Management LLC lifted its holdings in shares of Chevron by 133.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in shares of Chevron by 59.1% during the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the last quarter. Finally, Fusion Family Wealth LLC lifted its holdings in shares of Chevron by 192.6% during the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 838 shares during the last quarter. 64.98% of the stock is currently owned by institutional investors and hedge funds.

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Chevron 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Chevron (NYSE:CVX)

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