Chevron Corp. (CVX) Stock Rating Lowered by Vetr Inc.
Chevron Corp. (NYSE:CVX) was downgraded by equities researchers at Vetr from a “hold” rating to a “sell” rating in a research note issued on Tuesday. They currently have a $106.05 price target on the stock. Vetr‘s price target suggests a potential downside of 4.94% from the stock’s current price.
CVX has been the topic of several other research reports. Goldman Sachs Group Inc. upgraded shares of Chevron Corp. from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Monday, October 31st. Morgan Stanley upgraded shares of Chevron Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $113.00 to $130.00 in a research report on Tuesday, November 1st. Barclays PLC restated an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research report on Monday, October 10th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “strong-buy” rating and set a $118.00 price target on the stock in a research report on Monday, October 3rd. Finally, Jefferies Group restated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. Chevron Corp. has a consensus rating of “Buy” and an average price target of $108.42.
Shares of Chevron Corp. (NYSE:CVX) opened at 111.56 on Tuesday. The stock’s 50 day moving average price is $105.64 and its 200-day moving average price is $102.91. Chevron Corp. has a 12-month low of $75.33 and a 12-month high of $112.98. The firm’s market capitalization is $210.60 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.29. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The business had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. During the same quarter last year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts expect that Chevron Corp. will post $1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.87%. The ex-dividend date is Wednesday, November 16th. This is an increase from Chevron Corp.’s previous quarterly dividend of $1.07. Chevron Corp.’s dividend payout ratio (DPR) is -540.00%.
In other news, Director Linnet F. Deily sold 5,637 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $105.27, for a total transaction of $593,406.99. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the transaction, the insider now owns 28,911 shares in the company, valued at approximately $3,180,210. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mcmillion Capital Management Inc. increased its position in Chevron Corp. by 0.8% in the third quarter. Mcmillion Capital Management Inc. now owns 33,835 shares of the company’s stock valued at $3,482,000 after buying an additional 255 shares during the last quarter. Cutler Investment Counsel LLC increased its position in Chevron Corp. by 0.8% in the third quarter. Cutler Investment Counsel LLC now owns 88,363 shares of the company’s stock valued at $9,094,000 after buying an additional 681 shares during the last quarter. ETRADE Capital Management LLC increased its position in Chevron Corp. by 13.6% in the third quarter. ETRADE Capital Management LLC now owns 76,968 shares of the company’s stock valued at $7,922,000 after buying an additional 9,239 shares during the last quarter. Pope Asset Management LLC bought a new position in Chevron Corp. during the third quarter valued at about $247,000. Finally, D.A. Davidson & CO. increased its position in Chevron Corp. by 19.8% in the third quarter. D.A. Davidson & CO. now owns 245,162 shares of the company’s stock valued at $25,227,000 after buying an additional 40,471 shares during the last quarter. Institutional investors own 61.22% of the company’s stock.
About Chevron Corp.
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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