Chevron Corporation (NYSE:CVX) had its price target increased by Citigroup Inc. from $118.00 to $128.00 in a report released on Monday, October 30th. They currently have a buy rating on the oil and gas company’s stock.
Other equities research analysts have also issued reports about the stock. Barclays PLC restated an overweight rating and issued a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. BidaskClub lowered shares of Chevron Corporation from a sell rating to a strong sell rating in a report on Monday, July 24th. J P Morgan Chase & Co reiterated an overweight rating on shares of Chevron Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered shares of Chevron Corporation from a hold rating to a sell rating in a report on Monday, July 17th. Finally, Cowen and Company reiterated a buy rating and set a $122.00 price target on shares of Chevron Corporation in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Chevron Corporation currently has a consensus rating of Hold and an average price target of $120.63.
Chevron Corporation (NYSE:CVX) opened at $116.92 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Corporation has a 12 month low of $102.55 and a 12 month high of $120.89. The company has a market cap of $222,130.00, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. sell-side analysts expect that Chevron Corporation will post 4.28 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 17th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 125.95%.
In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the sale, the insider now owns 1,229 shares in the company, valued at approximately $145,022. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 50,000 shares of company stock worth $6,590. 0.38% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Chevron Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares in the last quarter. BlackRock Inc. grew its holdings in Chevron Corporation by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares in the last quarter. State Street Corp grew its holdings in Chevron Corporation by 1.1% during the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares in the last quarter. Capital World Investors grew its holdings in shares of Chevron Corporation by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Chevron Corporation by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Institutional investors own 63.03% 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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