Jefferies Group LLC Reaffirms “Buy” Rating for Chevron Corporation (CVX)
Jefferies Group LLC reiterated their buy rating on shares of Chevron Corporation (NYSE:CVX) in a report issued on Tuesday morning. Jefferies Group LLC currently has a $130.00 price target on the oil and gas company’s stock.
A number of other brokerages have also recently issued reports on CVX. Wells Fargo & Company reiterated a market perform rating and set a $108.00 price objective (up previously from $100.00) on shares of Chevron Corporation in a research note on Tuesday. Bank of America Corporation restated a buy rating and issued a $125.00 price target (up previously from $120.00) on shares of Chevron Corporation in a research note on Tuesday. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $123.00 price target (up previously from $118.00) on shares of Chevron Corporation in a research note on Tuesday, September 19th. Cowen and Company restated a buy rating and issued a $122.00 price target on shares of Chevron Corporation in a research note on Tuesday, September 19th. Finally, J P Morgan Chase & Co restated an overweight rating on shares of Chevron Corporation in a research note on Saturday, September 16th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $116.82.
Chevron Corporation (NYSE:CVX) traded down 1.286% during trading on Tuesday, hitting $117.055. 2,062,561 shares of the stock were exchanged. The firm’s 50 day moving average price is $112.57 and its 200-day moving average price is $107.85. The stock has a market cap of $221.82 billion, a price-to-earnings ratio of 37.956 and a beta of 1.24. Chevron Corporation has a 1-year low of $99.61 and a 1-year high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The company had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the business posted ($0.78) EPS. The business’s revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post $3.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.64%. The ex-dividend date was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at $4,866,018. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock worth $8,008,343 over the last ninety days. 0.38% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of CVX. Shine Investment Advisory Services Inc. bought a new position in Chevron Corporation in the second quarter valued at about $106,000. Thompson Davis & CO. Inc. raised its position in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares during the last quarter. Winfield Associates Inc. raised its position in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares during the last quarter. Americafirst Capital Management LLC bought a new position in Chevron Corporation in the first quarter valued at about $140,000. Finally, Daiwa SB Investments Ltd. raised its position in Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.
Chevron Corporation Company Profile
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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