Chevron Corp. (CVX) Receives New Coverage from Analysts at Exane BNP Paribas
CVX has been the topic of several other reports. Zacks Investment Research raised Chevron Corp. from a hold rating to a strong-buy rating and set a $118.00 target price on the stock in a report on Monday, October 3rd. Vetr raised Chevron Corp. from a buy rating to a strong-buy rating and set a $119.79 target price on the stock in a report on Wednesday, September 28th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $117.00 target price on shares of Chevron Corp. in a report on Monday, September 26th. Credit Suisse Group AG reissued a neutral rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Finally, Jefferies Group reissued a buy rating on shares of Chevron Corp. in a research report on Friday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Chevron Corp. currently has an average rating of Buy and a consensus target price of $105.09.
Shares of Chevron Corp. (NYSE:CVX) traded down 0.842% on Monday, reaching $103.105. The company had a trading volume of 937,677 shares. The stock has a 50-day moving average price of $101.02 and a 200-day moving average price of $101.21. Chevron Corp. has a 12 month low of $75.33 and a 12 month high of $107.58. The stock’s market cap is $194.51 billion.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. Analysts predict that Chevron Corp. will post $1.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders 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 dividend yield of 4.12%. Chevron Corp.’s payout ratio is currently -1,097.44%.
In other news, Director Inge G. Thulin purchased 487 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were purchased at an average price of $102.87 per share, with a total value of $50,097.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeanette L. Ourada sold 7,000 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $101.70, for a total transaction of $711,900.00. Following the completion of the transaction, the insider now directly owns 7,535 shares in the company, valued at approximately $766,309.50. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC boosted its position in Chevron Corp. by 1.0% in the first quarter. Oliver Luxxe Assets LLC now owns 29,840 shares of the company’s stock valued at $2,847,000 after buying an additional 281 shares during the last quarter. Howard Capital Management boosted its position in Chevron Corp. by 3.2% in the first quarter. Howard Capital Management now owns 134,670 shares of the company’s stock valued at $12,847,000 after buying an additional 4,235 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd boosted its position in Chevron Corp. by 370.3% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 17,400 shares of the company’s stock valued at $1,660,000 after buying an additional 13,700 shares during the last quarter. V Wealth Management LLC purchased a new position in Chevron Corp. during the first quarter valued at $549,000. Finally, Traynor Capital Management Inc. boosted its position in Chevron Corp. by 9.6% in the first quarter. Traynor Capital Management Inc. now owns 7,454 shares of the company’s stock valued at $711,000 after buying an additional 654 shares during the last quarter. 62.24% of the stock is currently owned by hedge funds and other institutional investors.
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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