Royal Bank of Canada upgraded shares of Chevron (NYSE:CVX) from an underperform rating to a sector perform rating in a research report report published on Friday morning, Marketbeat Ratings reports. Royal Bank of Canada currently has $125.00 price objective on the oil and gas company’s stock.
CVX has been the subject of several other reports. Morgan Stanley lifted their target price on Chevron from $130.00 to $145.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Vetr downgraded Chevron from a buy rating to a hold rating and set a $134.35 target price for the company. in a research report on Thursday, January 11th. Zacks Investment Research upgraded Chevron from a hold rating to a buy rating and set a $129.00 target price for the company in a research report on Friday, November 17th. TheStreet upgraded Chevron from a c+ rating to a b rating in a research report on Monday, October 23rd. Finally, Bank of America set a $125.00 target price on Chevron and gave the stock a buy rating in a research report on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron presently has an average rating of Buy and an average price target of $130.30.
Shares of Chevron (CVX) opened at $113.98 on Friday. Chevron has a 52-week low of $102.55 and a 52-week high of $133.88. The firm has a market capitalization of $216,490.00, a price-to-earnings ratio of 23.55, a PEG ratio of 2.23 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The business had revenue of $37.62 billion for the quarter, compared to the consensus estimate of $38.43 billion. During the same quarter last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. equities research analysts predict that Chevron will post 6.36 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 annualized dividend and a dividend yield of 3.93%. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio (DPR) is currently 89.26%.
In other Chevron news, CFO Patricia E. Yarrington sold 116,857 shares of Chevron stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $115.29, for a total value of $13,472,443.53. Following the transaction, the chief financial officer now owns 39,506 shares in the company, valued at $4,554,646.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 264,021 shares of company stock worth $30,619,037. Insiders own 0.38% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harbour Capital Advisors LLC grew its stake in shares of Chevron by 10,213.3% during the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Chevron by 2.9% during the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the last quarter. Alleghany Corp DE purchased a new stake in shares of Chevron during the fourth quarter worth about $430,653,000. Capital World Investors grew its stake in shares of Chevron by 9.8% during the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Chevron by 669.9% during the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares during the last quarter. Institutional investors own 63.72% of the company’s stock.
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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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