Chevron Co. (NYSE:CVX) has received an average rating of “Buy” from the twenty-six brokerages that are presently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $137.36.
CVX has been the subject of a number of analyst reports. DZ Bank raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Bank of America upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $113.61 to $138.00 in a research report on Wednesday, February 28th. They noted that the move was a valuation call. Vetr cut Chevron from a “strong-buy” rating to a “buy” rating and set a $122.05 price objective for the company. in a research report on Monday, February 26th. Piper Jaffray Companies restated a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research report on Monday, April 23rd. Finally, ValuEngine upgraded Chevron from a “hold” rating to a “buy” rating in a research report on Wednesday, April 18th.
In related news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total transaction of $3,110,235.00. Following the completion of the sale, the vice president now directly owns 25,500 shares in the company, valued at $3,110,235. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James William Johnson sold 9,500 shares of the company’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total value of $1,229,680.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at $1,229,680. The disclosure for this sale can be found here. Insiders have sold 386,500 shares of company stock valued at $49,748,880 over the last quarter. 0.38% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CVX. Norinchukin Bank The grew its holdings in Chevron by 2.7% in the 3rd quarter. Norinchukin Bank The now owns 270,113 shares of the oil and gas company’s stock valued at $31,738,000 after buying an additional 7,087 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Chevron by 4.3% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 27,192 shares of the oil and gas company’s stock valued at $3,195,000 after buying an additional 1,125 shares in the last quarter. Private Advisory Group LLC grew its holdings in Chevron by 35.9% in the 3rd quarter. Private Advisory Group LLC now owns 15,230 shares of the oil and gas company’s stock valued at $1,790,000 after buying an additional 4,020 shares in the last quarter. Monroe Bank & Trust MI grew its holdings in Chevron by 5.8% in the 3rd quarter. Monroe Bank & Trust MI now owns 12,606 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 694 shares in the last quarter. Finally, Oakworth Capital Inc. grew its holdings in Chevron by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 14,378 shares of the oil and gas company’s stock valued at $1,547,000 after buying an additional 612 shares in the last quarter. Institutional investors own 64.37% of the company’s stock.
Chevron traded up $3.58, reaching $126.96, during trading hours on Thursday, MarketBeat.com reports. The company had a trading volume of 8,606,502 shares, compared to its average volume of 7,045,451. Chevron has a 1-year low of $102.55 and a 1-year high of $133.88. The company has a market capitalization of $234.45 billion, a PE ratio of 34.31, a PEG ratio of 2.30 and a beta of 1.14. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company had revenue of $37.76 billion during the quarter, compared to the consensus estimate of $40.34 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Chevron’s revenue for the quarter was up 13.0% on a year-over-year basis. equities research analysts predict that Chevron will post 7.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Thursday, May 17th. Chevron’s payout ratio is 121.08%.
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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