Credit Suisse Group set a $132.00 target price on Chevron (NYSE:CVX) in a research report sent to investors on Sunday. The firm currently has a hold rating on the oil and gas company’s stock.
Other analysts also recently issued reports about the stock. Barclays boosted their target price on shares of Chevron from $135.00 to $145.00 and gave the company an overweight rating in a research note on Monday, April 30th. Vetr raised shares of Chevron from a hold rating to a buy rating and set a $117.38 target price on the stock in a research note on Tuesday, April 3rd. Wells Fargo & Co boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company an outperform rating in a research note on Thursday, June 7th. Mizuho assumed coverage on shares of Chevron in a research note on Friday, June 8th. They set a buy rating and a $145.00 target price on the stock. Finally, ValuEngine raised shares of Chevron from a hold rating to a buy rating in a research note on Wednesday, April 18th. Six investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Chevron presently has an average rating of Buy and an average target price of $136.27.
Shares of NYSE CVX traded down $2.18 during trading on Friday, hitting $124.25. The company had a trading volume of 5,069,000 shares, compared to its average volume of 6,963,603. The stock has a market capitalization of $241.51 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.12 and a beta of 1.13. Chevron has a 52 week low of $102.55 and a 52 week high of $133.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron (NYSE:CVX) last posted 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 Thomson Reuters’ consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion for the quarter, compared to analysts’ expectations of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share. research analysts forecast that Chevron will post 8.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Thursday, May 17th. Chevron’s dividend payout ratio is presently 121.08%.
In related news, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $126.96, for a total value of $603,060.00. Following the completion of the sale, the executive vice president now directly owns 4,750 shares in the company, valued at $603,060. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Pierre R. Breber sold 25,000 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $130.41, for a total transaction of $3,260,250.00. The disclosure for this sale can be found here. Insiders sold 391,250 shares of company stock valued at $50,351,940 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Avalon Advisors LLC lifted its stake in shares of Chevron by 0.4% in the first quarter. Avalon Advisors LLC now owns 508,750 shares of the oil and gas company’s stock valued at $58,018,000 after buying an additional 2,173 shares during the period. Mount Yale Investment Advisors LLC bought a new stake in shares of Chevron in the first quarter valued at about $522,000. Greenline Partners LLC lifted its stake in shares of Chevron by 2.8% in the first quarter. Greenline Partners LLC now owns 78,937 shares of the oil and gas company’s stock valued at $9,002,000 after buying an additional 2,149 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Chevron in the first quarter valued at about $1,950,000. Finally, Private Vista LLC lifted its stake in shares of Chevron by 113.4% in the first quarter. Private Vista LLC now owns 11,051 shares of the oil and gas company’s stock valued at $1,260,000 after buying an additional 5,873 shares during the period. Institutional investors own 64.28% of the company’s stock.
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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