Chevron (CVX) Earns Hold Rating from Analysts at Berenberg Bank
Berenberg Bank started coverage on shares of Chevron (NYSE:CVX) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a hold rating and a $135.00 price target on the oil and gas company’s stock.
Several other equities analysts have also recently issued reports on the stock. Goldman Sachs Group restated a buy rating and issued a $141.00 price target on shares of Chevron in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of Chevron from a buy rating to a hold rating in a research report on Monday, July 23rd. Wells Fargo & Co upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, June 7th. ValuEngine cut shares of Chevron from a buy rating to a hold rating in a research report on Thursday, August 2nd. Finally, Royal Bank of Canada restated a neutral rating and issued a $145.00 price target on shares of Chevron in a research report on Monday, July 2nd. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Chevron currently has an average rating of Buy and an average target price of $138.17.
Shares of NYSE:CVX opened at $116.30 on Tuesday. The company has a market capitalization of $221.87 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron has a one year low of $108.02 and a one year high of $133.88.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Friday, August 17th were given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Thursday, August 16th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
In other news, insider James William Johnson sold 4,750 shares of the stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $124.20, for a total transaction of $589,950.00. Following the completion of the sale, the insider now directly owns 4,750 shares in the company, valued at $589,950. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CVX. Live Your Vision LLC lifted its stake in shares of Chevron by 308.0% in the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 616 shares in the last quarter. Advisors Preferred LLC bought a new position in shares of Chevron in the first quarter valued at $110,000. Earnest Partners LLC bought a new position in shares of Chevron in the fourth quarter valued at $114,000. Virtue Capital Management LLC bought a new position in shares of Chevron in the fourth quarter valued at $128,000. Finally, Litman Gregory Asset Management LLC lifted its stake in shares of Chevron by 566.9% in the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 975 shares in the last quarter. Institutional investors own 65.02% of the company’s stock.
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.
Featured Story: How to Invest in an Index Fund
Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.