Chevron Corp. (CVX) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Chevron Corp. (NYSE:CVX)‘s stock had its “overweight” rating restated by JPMorgan Chase & Co. in a research report issued on Monday. They presently have a $117.00 price objective on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 18.21% from the company’s previous close.
A number of other analysts have also recently commented on CVX. Credit Suisse Group AG reiterated a “hold” rating and set a $100.00 target price on shares of Chevron Corp. in a research report on Thursday, June 2nd. Vetr upgraded Chevron Corp. from a “hold” rating to a “buy” rating and set a $106.49 target price on the stock in a research report on Tuesday, May 31st. Morgan Stanley reiterated a “hold” rating and set a $85.00 target price on shares of Chevron Corp. in a research report on Wednesday, June 8th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Finally, Simmons upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $117.00 in a research report on Tuesday, August 9th. Thirteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Chevron Corp. has an average rating of “Buy” and a consensus price target of $105.01.
Chevron Corp. (NYSE:CVX) opened at 98.98 on Monday. The firm’s 50-day moving average price is $100.96 and its 200-day moving average price is $100.76. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The stock’s market cap is $186.73 billion.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $1.10. The business had revenue of $29.28 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 27.4% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. On average, analysts predict that Chevron Corp. will post $1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.28 annualized dividend and a yield of 4.32%. Chevron Corp.’s dividend payout ratio (DPR) is presently -1,097.44%.
In other Chevron Corp. news, Director Inge G. Thulin purchased 487 shares of the business’s stock in a transaction on Monday, August 15th. The stock was bought at an average cost of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael K. Wirth sold 125,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now owns 4,222 shares of the company’s stock, valued at $424,184.34. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gradient Investments LLC increased its stake in Chevron Corp. by 2.1% in the first quarter. Gradient Investments LLC now owns 49,521 shares of the company’s stock worth $4,724,000 after buying an additional 1,023 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in Chevron Corp. by 22.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 17,273 shares of the company’s stock worth $1,648,000 after buying an additional 3,149 shares during the last quarter. Heritage Investors Management Corp increased its stake in Chevron Corp. by 3.0% in the first quarter. Heritage Investors Management Corp now owns 145,675 shares of the company’s stock worth $13,897,000 after buying an additional 4,207 shares during the last quarter. Searle & CO. increased its stake in Chevron Corp. by 4.3% in the first quarter. Searle & CO. now owns 7,240 shares of the company’s stock worth $682,000 after buying an additional 300 shares during the last quarter. Finally, Capital Asset Advisory Services LLC increased its stake in Chevron Corp. by 9.4% in the first quarter. Capital Asset Advisory Services LLC now owns 15,959 shares of the company’s stock worth $1,522,000 after buying an additional 1,370 shares during the last quarter. Institutional investors own 62.24% of the company’s stock.
Chevron Corp. 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.
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