Chevron Co. (NYSE:CVX) has received a consensus recommendation of “Buy” from the twenty-seven ratings firms that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $136.97.
CVX has been the subject of a number of recent analyst reports. Goldman Sachs Group upgraded Chevron from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price objective on Chevron and gave the company a “hold” rating in a report on Thursday, September 20th. Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $150.00 to $135.00 in a report on Thursday, September 6th. Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $137.00 price objective for the company in a report on Monday, October 1st. Finally, HSBC upgraded Chevron from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th.
In other Chevron news, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Thursday, October 11th. The stock was sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the sale, the insider now directly owns 4,750 shares in the company, valued at $569,857.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in Chevron by 3.5% during the second quarter. FMR LLC now owns 35,416,997 shares of the oil and gas company’s stock valued at $4,477,771,000 after purchasing an additional 1,211,881 shares during the last quarter. Morgan Stanley boosted its position in Chevron by 3.8% during the second quarter. Morgan Stanley now owns 16,986,164 shares of the oil and gas company’s stock valued at $2,147,560,000 after purchasing an additional 626,514 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Chevron by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 13,217,173 shares of the oil and gas company’s stock valued at $1,671,000,000 after purchasing an additional 190,647 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Chevron by 2.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 8,933,341 shares of the oil and gas company’s stock valued at $1,129,443,000 after purchasing an additional 204,547 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Chevron by 0.4% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,624,550 shares of the oil and gas company’s stock valued at $869,505,000 after purchasing an additional 31,022 shares during the last quarter. Institutional investors own 64.82% of the company’s stock.
Shares of CVX traded down $0.22 during trading hours on Wednesday, hitting $117.29. 6,269,000 shares of the stock traded hands, compared to its average volume of 6,374,619. The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. Chevron has a 1-year low of $108.02 and a 1-year high of $133.88. The firm has a market capitalization of $234.31 billion, a PE ratio of 31.70, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.
Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.31). The company had revenue of $42.24 billion during the quarter, compared to the consensus estimate of $46.62 billion. Chevron had a net margin of 7.87% and a return on equity of 6.89%. The company’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. Analysts anticipate that Chevron will post 8.17 EPS for the current year.
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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