Credit Suisse Group assumed coverage on shares of Chevron (NYSE:CVX) in a report released on Monday, MarketBeat reports. The firm issued a neutral rating and a $123.00 price objective on the oil and gas company’s stock.
CVX has been the topic of several other reports. Barclays raised Chevron to an overweight rating in a report on Wednesday, October 11th. Vetr downgraded Chevron from a buy rating to a hold rating and set a $124.92 target price on the stock. in a report on Monday, October 16th. Zacks Investment Research raised Chevron from a hold rating to a buy rating and set a $129.00 target price on the stock in a report on Friday, November 17th. J P Morgan Chase & Co reaffirmed an overweight rating on shares of Chevron in a report on Saturday, September 16th. Finally, Cowen reaffirmed a buy rating and set a $122.00 target price on shares of Chevron in a report on Tuesday, September 19th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. Chevron currently has an average rating of Hold and a consensus price target of $121.22.
Shares of Chevron (NYSE CVX) opened at $119.93 on Monday. The firm has a market capitalization of $227,326.56, a price-to-earnings ratio of 33.53, a P/E/G ratio of 3.95 and a beta of 1.21. Chevron has a 52-week low of $102.55 and a 52-week high of $122.30. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. analysts forecast that Chevron will post 4.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date was Thursday, November 16th. Chevron’s payout ratio is 125.95%.
In other Chevron news, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the sale, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The disclosure for this sale can be found here. Insiders sold a total of 314,000 shares of company stock valued at $36,540,822 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CVX. New Capital Management LP lifted its stake in Chevron by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock valued at $156,000 after purchasing an additional 4 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Chevron by 0.4% in the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 11 shares during the last quarter. Deschutes Portfolio Strategy LLC lifted its stake in Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after purchasing an additional 13 shares during the last quarter. Regis Management CO LLC lifted its stake in Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 14 shares during the last quarter. Finally, Keel Point LLC lifted its stake in Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 14 shares during the last quarter. 63.93% of the stock is owned by hedge funds and other institutional investors.
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Chevron 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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