Piper Jaffray Companies Analysts Give Chevron Corporation (CVX) a $119.00 Price Target
Piper Jaffray Companies set a $119.00 price objective on Chevron Corporation (NYSE:CVX) in a research report released on Friday morning. The firm currently has a buy rating on the oil and gas company’s stock.
A number of other equities analysts have also issued reports on CVX. Jefferies Group LLC set a $135.00 target price on shares of Chevron Corporation and gave the company a buy rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of Chevron Corporation from a sell rating to a hold rating in a research report on Thursday, August 3rd. BNP Paribas upgraded shares of Chevron Corporation from an underperform rating to a neutral rating and set a $105.00 target price for the company in a research report on Monday, August 7th. TheStreet lowered shares of Chevron Corporation from a b rating to a c+ rating in a research report on Friday, July 28th. Finally, BidaskClub upgraded shares of Chevron Corporation from a sell rating to a hold rating in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chevron Corporation currently has a consensus rating of Buy and a consensus target price of $117.22.
Chevron Corporation (NYSE:CVX) opened at 107.76 on Friday. The firm has a 50 day moving average of $106.68 and a 200-day moving average of $107.28. The firm has a market cap of $204.21 billion, a P/E ratio of 34.94 and a beta of 1.23. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00.
Chevron Corporation (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. The firm had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.78) EPS. On average, equities research analysts forecast that Chevron Corporation will post $3.85 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be issued a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.01%. Chevron Corporation’s dividend payout ratio is 140.26%.
In other news, Director Linnet F. Deily sold 2,312 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s 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 in the company, valued at approximately $4,866,018. The disclosure for this sale can be found here. Insiders sold a total of 72,312 shares of company stock worth $8,008,343 in the last quarter. 0.38% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of CVX. Kentucky Retirement Systems purchased a new position in Chevron Corporation during the fourth quarter worth approximately $16,123,000. Rothschild Investment Corp IL increased its position in Chevron Corporation by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after buying an additional 919 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Chevron Corporation by 7.7% in the first quarter. Janney Montgomery Scott LLC now owns 504,112 shares of the oil and gas company’s stock worth $54,127,000 after buying an additional 36,257 shares in the last quarter. Ronna Sue Cohen increased its position in Chevron Corporation by 1.5% in the second quarter. Ronna Sue Cohen now owns 4,707 shares of the oil and gas company’s stock worth $491,000 after buying an additional 68 shares in the last quarter. Finally, Court Place Advisors LLC increased its position in Chevron Corporation by 0.6% in the first quarter. Court Place Advisors LLC now owns 5,968 shares of the oil and gas company’s stock worth $641,000 after buying an additional 36 shares in the last quarter. Institutional investors own 62.84% 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. The Company operates through two business segments: Upstream and Downstream.
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