Chevron Corporation’s (CVX) Buy Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC restated their buy rating on shares of Chevron Corporation (NYSE:CVX) in a report published on Wednesday. The brokerage currently has a $135.00 price objective on the oil and gas company’s stock.
A number of other equities analysts have also recently commented on CVX. Scotiabank set a $114.00 price objective on shares of Chevron Corporation and gave the stock a buy rating in a research note on Monday, May 1st. TheStreet raised shares of Chevron Corporation from a c rating to a b rating in a research note on Tuesday, May 2nd. Bank of America Corporation reaffirmed a buy rating and set a $135.00 price target (down from $145.00) on shares of Chevron Corporation in a research note on Thursday, May 11th. BNP Paribas cut shares of Chevron Corporation from a neutral rating to an underperform rating and set a $100.00 price target for the company. in a research note on Friday, May 26th. Finally, Exane BNP Paribas cut shares of Chevron Corporation from a neutral rating to an underperform rating and dropped their price target for the stock from $105.00 to $100.00 in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $117.12.
Shares of Chevron Corporation (NYSE CVX) traded up 0.74% during midday trading on Wednesday, hitting $108.23. The company’s stock had a trading volume of 4,384,176 shares. Chevron Corporation has a 52-week low of $97.53 and a 52-week high of $119.00. The stock’s 50 day moving average is $106.68 and its 200-day moving average is $107.28. The firm has a market cap of $205.10 billion, a P/E ratio of 35.09 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period last year, the company posted ($0.78) EPS. The business’s revenue was up 17.8% on a year-over-year basis. Equities analysts predict that Chevron Corporation will post $3.83 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.99%. Chevron Corporation’s dividend payout ratio is currently 140.26%.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the sale, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the sale, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,312 shares of company stock valued at $8,008,343. Company insiders own 0.38% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. acquired a new stake in Chevron Corporation during the second quarter valued at approximately $106,000. Thompson Davis & CO. Inc. raised its stake in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares in the last quarter. Winfield Associates Inc. raised its stake in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Chevron Corporation during the fourth quarter valued at approximately $139,000. Finally, Americafirst Capital Management LLC acquired a new stake in Chevron Corporation during the first quarter valued at approximately $140,000. Institutional investors and hedge funds own 62.75% of the company’s stock.
About Chevron Corporation
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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