Brokerages Set Chevron Co. (NYSE:CVX) Price Target at $135.62
Chevron Co. (NYSE:CVX) has received an average rating of “Buy” from the nineteen analysts that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $135.62.
A number of brokerages have commented on CVX. Morgan Stanley reduced their target price on shares of Chevron from $146.00 to $144.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Cowen reaffirmed a “buy” rating and set a $142.00 target price on shares of Chevron in a research note on Wednesday, April 17th. Citigroup began coverage on shares of Chevron in a research note on Monday, May 13th. They set a “buy” rating and a $135.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th.
In other news, EVP Joseph C. Geagea sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $122.97, for a total value of $1,229,700.00. Following the sale, the executive vice president now directly owns 11,243 shares of the company’s stock, valued at approximately $1,382,551.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares in the company, valued at $4,239,000. The disclosure for this sale can be found here. Insiders sold a total of 50,050 shares of company stock worth $6,237,321 over the last three months. Insiders own 0.31% of the company’s stock.
CVX traded up $0.84 on Tuesday, reaching $122.39. 5,543,657 shares of the company’s stock were exchanged, compared to its average volume of 6,777,298. The firm has a market capitalization of $231.89 billion, a PE ratio of 14.84, a PEG ratio of 2.98 and a beta of 1.00. Chevron has a twelve month low of $100.22 and a twelve month high of $127.60. The business has a fifty day moving average price of $123.57. The company has a current ratio of 1.15, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. The firm had revenue of $38.85 billion for the quarter, compared to analyst estimates of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 earnings per share. Analysts expect that Chevron will post 6.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be paid a $1.19 dividend. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend is Friday, August 16th. Chevron’s dividend payout ratio (DPR) is 57.70%.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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