Chevron Corporation (CVX) Cut to “Sell” at Vetr Inc.
Chevron Corporation (NYSE:CVX) was downgraded by equities research analysts at Vetr from a “hold” rating to a “sell” rating in a report issued on Thursday. They presently have a $106.77 price target on the stock. Vetr‘s target price points to a potential downside of 3.53% from the company’s previous close.
CVX has been the topic of a number of other reports. TheStreet downgraded shares of Chevron Corporation from a “b-” rating to a “c” rating in a research report on Friday, February 3rd. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Chevron Corporation in a research report on Sunday, January 29th. Jefferies Group LLC reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Wednesday, January 18th. Morgan Stanley raised shares of Chevron Corporation from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $113.00 to $130.00 in a research report on Tuesday, November 1st. Finally, Macquarie raised shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and increased their target price for the company from $90.00 to $130.00 in a research report on Thursday, December 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $112.49.
Shares of Chevron Corporation (NYSE:CVX) traded down 1.68% on Thursday, hitting $110.68. 9,478,223 shares of the company’s stock were exchanged. The stock’s market cap is $208.94 billion. Chevron Corporation has a 12-month low of $82.90 and a 12-month high of $119.00. The company’s 50-day moving average price is $114.65 and its 200 day moving average price is $107.66.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, January 27th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by $0.42. The company earned $31.50 billion during the quarter, compared to analysts’ expectations of $35.24 billion. Chevron Corporation had a negative net margin of 0.43% and a positive return on equity of 1.26%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned ($0.31) earnings per share. On average, equities analysts predict that Chevron Corporation will post $4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 16th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Tuesday, February 14th. Chevron Corporation’s dividend payout ratio (DPR) is presently -1,600.00%.
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In other news, insider Pierre R. Breber sold 45,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $111.80, for a total value of $5,031,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Chevron Corporation by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock valued at $13,087,581,000 after buying an additional 2,824,724 shares during the period. State Street Corp boosted its stake in Chevron Corporation by 3.3% in the fourth quarter. State Street Corp now owns 117,508,471 shares of the company’s stock valued at $13,830,748,000 after buying an additional 3,719,388 shares during the period. Northern Trust Corp boosted its stake in Chevron Corporation by 1.0% in the third quarter. Northern Trust Corp now owns 25,401,354 shares of the company’s stock valued at $2,614,308,000 after buying an additional 261,621 shares during the period. Bank of New York Mellon Corp boosted its stake in Chevron Corporation by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 25,363,912 shares of the company’s stock valued at $2,610,454,000 after buying an additional 189,971 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Chevron Corporation by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 12,237,007 shares of the company’s stock valued at $1,282,834,000 after buying an additional 354,796 shares during the period. Institutional investors own 62.50% 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. Chevron operates through two business segments: Upstream and Downstream.
To view Vetr’s full report, visit Vetr’s official website.
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