Chevron Corporation (CVX) Receives Average Rating of “Hold” from Brokerages
Chevron Corporation (NYSE:CVX) has received a consensus rating of “Hold” from the twenty-eight ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $121.38.
A number of analysts recently issued reports on CVX shares. UBS set a $105.00 target price on Chevron and gave the stock a “neutral” rating in a research note on Wednesday, September 6th. Morgan Stanley increased their target price on Chevron from $120.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. Citigroup increased their target price on Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Credit Suisse Group set a $123.00 target price on Chevron and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Jefferies Group set a $130.00 target price on Chevron and gave the stock a “buy” rating in a research note on Tuesday, August 29th.
Shares of Chevron (NYSE CVX) traded down $0.40 during mid-day trading on Thursday, hitting $119.53. The stock had a trading volume of 3,732,636 shares, compared to its average volume of 5,596,586. Chevron has a one year low of $102.55 and a one year high of $122.30. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The company has a market cap of $227,030.00, a PE ratio of 33.53, a PEG ratio of 3.95 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the prior year, the business earned $0.68 EPS. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. analysts anticipate that Chevron will post 4.33 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Thursday, November 16th. Chevron’s dividend payout ratio (DPR) is currently 125.95%.
In other Chevron news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at approximately $5,019,658. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’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 value of $3,060,000.00. Following the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,000 shares of company stock valued at $36,540,822. Insiders own 0.38% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Chevron by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Chevron by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the last quarter. Capital World Investors lifted its holdings in Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Northern Trust Corp lifted its holdings in Chevron by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Chevron by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after purchasing an additional 49,083 shares during the last quarter. 63.93% of the stock is owned by hedge funds and other institutional investors.
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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