Chevron Corporation (CVX) Earns Buy Rating from Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of Chevron Corporation (NYSE:CVX) in a research report sent to investors on Thursday. Jefferies Group LLC currently has a $137.00 price target on the oil and gas company’s stock.
Other analysts also recently issued reports about the stock. Barclays PLC reiterated an overweight rating and issued a $125.00 target price (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. BidaskClub downgraded shares of Chevron Corporation from a sell rating to a strong sell rating in a report on Monday, July 24th. J P Morgan Chase & Co reiterated an overweight rating on shares of Chevron Corporation in a report on Saturday, September 16th. Citigroup Inc. dropped their target price on shares of Chevron Corporation from $129.00 to $118.00 and set a buy rating on the stock in a report on Friday, July 21st. Finally, Zacks Investment Research downgraded shares of Chevron Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. Chevron Corporation currently has an average rating of Hold and an average price target of $119.66.
Shares of Chevron Corporation (NYSE CVX) traded up 0.37% on Thursday, reaching $118.64. 4,924,257 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $116.24 and its 200-day moving average price is $108.72. The company has a market capitalization of $224.82 billion, a P/E ratio of 38.47 and a beta of 1.24. Chevron Corporation has a 1-year low of $99.87 and a 1-year high of $120.89.
Chevron Corporation (NYSE:CVX) last released its earnings results 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 for the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the previous year, the firm earned ($0.78) EPS. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts anticipate that Chevron Corporation will post $4.08 EPS for the current fiscal year.
In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 43,838 shares of the company’s stock, valued at $4,866,018. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at $3,060,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,812 shares of company stock worth $11,068,343. Company insiders own 0.38% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. HPM Partners LLC grew its position in Chevron Corporation by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after acquiring an additional 25,691 shares in the last quarter. Lincoln National Corp grew its position in Chevron Corporation by 33.3% in the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after acquiring an additional 20,615 shares in the last quarter. Adams Natural Resources Fund Inc. grew its position in Chevron Corporation by 8.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after acquiring an additional 48,100 shares in the last quarter. Strategic Financial Group LLC grew its position in Chevron Corporation by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after acquiring an additional 510 shares in the last quarter. Finally, Rothschild Investment Corp IL grew its position in Chevron Corporation by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after acquiring an additional 919 shares in the last quarter. 62.72% of the stock is owned by institutional investors.
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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