Chevron Corporation’s (CVX) “Buy” Rating Reiterated at Cowen and Company
Cowen and Company reiterated their buy rating on shares of Chevron Corporation (NYSE:CVX) in a report published on Tuesday. They currently have a $122.00 target price on the oil and gas company’s stock.
CVX has been the topic of several other research reports. Credit Suisse Group set a $123.00 price objective on Chevron Corporation and gave the stock a buy rating in a research note on Friday, August 25th. Citigroup Inc. dropped their price objective on Chevron Corporation from $129.00 to $118.00 and set a buy rating on the stock in a research note on Friday, July 21st. BMO Capital Markets set a $120.00 price objective on Chevron Corporation and gave the stock a buy rating in a research note on Sunday, July 30th. Exane BNP Paribas downgraded Chevron Corporation from a neutral rating to an underperform rating and dropped their price objective for the stock from $105.00 to $100.00 in a research note on Friday, May 26th. Finally, BidaskClub raised Chevron Corporation from a sell rating to a hold rating in a research note on Tuesday, August 1st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Chevron Corporation has a consensus rating of Buy and an average price target of $116.88.
Chevron Corporation (NYSE CVX) traded up 0.8494% on Tuesday, reaching $117.4593. The company had a trading volume of 1,383,058 shares. The stock has a market capitalization of $222.59 billion, a price-to-earnings ratio of 38.0867 and a beta of 1.23. The firm has a 50 day moving average price of $109.87 and a 200-day moving average price of $107.14. Chevron Corporation has a 12 month low of $97.79 and a 12 month high of $119.00.
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 the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.78) EPS. Analysts forecast that Chevron Corporation will post $3.86 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
In related news, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders have sold 72,312 shares of company stock valued at $8,008,343 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CVX. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron Corporation during the second quarter worth approximately $106,000. Thompson Davis & CO. Inc. boosted its holdings in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. boosted its holdings in shares of Chevron Corporation by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 63 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Chevron Corporation during the first quarter worth approximately $140,000. Finally, Daiwa SB Investments Ltd. boosted its holdings in shares of Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 1,140 shares during the period. Institutional investors and hedge funds own 62.74% of the company’s stock.
Chevron Corporation 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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