Credit Suisse Group Trims Chevron (CVX) Target Price to $123.00
Chevron (NYSE:CVX) had its price objective cut by Credit Suisse Group from $129.00 to $123.00 in a report issued on Wednesday morning. They currently have a neutral rating on the oil and gas company’s stock.
Other equities analysts also recently issued research reports about the stock. Vetr downgraded shares of Chevron from a buy rating to a hold rating and set a $134.35 price target for the company. in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Chevron from a hold rating to a buy rating and set a $140.00 price target for the company in a research note on Wednesday, December 27th. BNP Paribas upgraded shares of Chevron from an underperform rating to a neutral rating in a research note on Friday, February 23rd. DZ Bank upgraded shares of Chevron from a hold rating to a buy rating in a research note on Wednesday. Finally, Jefferies Group restated a buy rating and issued a $140.00 price target on shares of Chevron in a research note on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Chevron presently has a consensus rating of Buy and an average price target of $130.00.
Chevron (CVX) opened at $117.22 on Wednesday. The company has a market cap of $223,919.86, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. Chevron has a 12 month low of $102.55 and a 12 month high of $133.88.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.12 dividend. The ex-dividend date is Thursday, February 15th. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.82%. Chevron’s payout ratio is 92.37%.
A number of institutional investors and hedge funds have recently made changes to their positions in CVX. Pathstone Family Office LLC raised its holdings in shares of Chevron by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares during the last quarter. Earnest Partners LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $114,000. Virtue Capital Management LLC purchased a new stake in shares of Chevron in the fourth quarter valued at about $128,000. Fusion Family Wealth LLC raised its holdings in shares of Chevron by 192.6% in the fourth quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 838 shares during the last quarter. Finally, Accurate Investment Solutions Inc. raised its holdings in shares of Chevron by 59.1% in the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 502 shares during the last quarter. 64.02% of the stock is owned by hedge funds and other institutional investors.
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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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