Chevron Co. (NYSE:CVX) has been given an average recommendation of “Buy” by the twenty-one brokerages that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $135.29.
CVX has been the topic of several research analyst reports. Citigroup initiated coverage on Chevron in a research note on Monday, May 13th. They issued a “buy” rating and a $135.00 price objective on the stock. Royal Bank of Canada raised Chevron to a “sector perform” rating and set a $145.00 price objective on the stock in a research note on Wednesday, March 6th. Mizuho reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research note on Wednesday, March 6th. Tudor Pickering initiated coverage on Chevron in a research note on Friday, March 1st. They issued a “buy” rating and a $133.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on Chevron in a research note on Friday, April 12th. They issued an “overweight” rating and a $150.00 price objective on the stock.
NYSE:CVX traded up $0.48 during trading hours on Monday, hitting $121.29. The company’s stock had a trading volume of 136,448 shares, compared to its average volume of 5,561,950. The stock has a fifty day simple moving average of $119.04. The stock has a market capitalization of $230.11 billion, a P/E ratio of 14.69, a P/E/G ratio of 2.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 0.90. Chevron has a twelve month low of $100.22 and a twelve month high of $128.55.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.13. The business had revenue of $35.20 billion for the quarter, compared to analyst estimates of $38.42 billion. Chevron had a return on equity of 9.07% and a net margin of 8.45%. Chevron’s revenue was down 6.8% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. Equities research analysts forecast that Chevron will post 7.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a dividend of $1.19 per share. The ex-dividend date was Thursday, May 16th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 3.92%. Chevron’s dividend payout ratio (DPR) is 57.70%.
In other news, Director Enrique Hernandez, Jr. sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $122.13, for a total transaction of $512,946.00. Following the completion of the transaction, the director now directly owns 15,689 shares in the company, valued at $1,916,097.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $125.60, for a total value of $596,600.00. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $596,600. The disclosure for this sale can be found here. Insiders have sold 11,050 shares of company stock valued at $1,365,221 over the last 90 days. 0.31% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. CKW Financial Group raised its position in shares of Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Highwater Wealth Management LLC bought a new stake in Chevron in the fourth quarter worth approximately $51,000. Ironwood Financial llc increased its holdings in Chevron by 94.2% in the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares in the last quarter. Thor Advisors LLC bought a new stake in Chevron in the first quarter worth approximately $67,000. Finally, Tributary Capital Management LLC bought a new stake in Chevron in the fourth quarter worth approximately $84,000. Institutional investors own 65.39% 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.
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