Cowen and Company reiterated their buy rating on shares of Chevron Corporation (NYSE:CVX) in a research note published on Tuesday. Cowen and Company currently has a $122.00 price objective on the oil and gas company’s stock.
Several other analysts have also recently issued reports on the stock. UBS AG set a $105.00 target price on shares of Chevron Corporation and gave the stock a neutral rating in a research note on Wednesday, September 6th. Zacks Investment Research cut shares of Chevron Corporation from a hold rating to a sell rating in a research note on Monday, July 17th. Credit Suisse Group set a $123.00 target price on shares of Chevron Corporation and gave the stock a buy rating in a research note on Friday, August 25th. Jefferies Group LLC set a $130.00 target price on shares of Chevron Corporation and gave the stock a buy rating in a research note on Tuesday, August 29th. Finally, BidaskClub cut shares of Chevron Corporation from a sell rating to a strong sell rating in a research note on Friday, June 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $116.88.
Chevron Corporation (NYSE:CVX) opened at 116.34 on Tuesday. The company has a 50-day moving average of $109.87 and a 200-day moving average of $107.14. The company has a market capitalization of $220.46 billion, a PE ratio of 37.72 and a beta of 1.23. Chevron Corporation has a 52 week low of $97.79 and a 52 week high of $119.00.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The business had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same period in the prior year, the company posted ($0.78) EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post $3.86 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were issued a $1.08 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 3.71%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders sold 72,312 shares of company stock valued at $8,008,343 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron Corporation in the second quarter worth approximately $106,000. Thompson Davis & CO. Inc. grew its stake in shares of 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 worth $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. grew its stake in shares of 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 worth $136,000 after acquiring an additional 63 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Chevron Corporation in the first quarter worth approximately $140,000. Finally, Daiwa SB Investments Ltd. grew its stake in shares of 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 worth $146,000 after acquiring an additional 1,140 shares during the period. 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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