Chevron Co. (NYSE:CVX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Chevron Co. (NYSE:CVX) have earned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $183.82.

A number of research firms have recently weighed in on CVX. Wells Fargo & Company increased their price objective on shares of Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada decreased their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday. Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th.

Chevron Stock Up 1.5 %

Chevron stock opened at $144.50 on Friday. The business’s 50-day simple moving average is $155.22 and its two-hundred day simple moving average is $155.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a market cap of $266.31 billion, a PE ratio of 13.29, a PEG ratio of 2.39 and a beta of 1.10. Chevron has a fifty-two week low of $139.62 and a fifty-two week high of $171.70.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the firm earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Chevron will post 12.45 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVX. KG&L Capital Management LLC lifted its stake in Chevron by 36.2% in the 4th quarter. KG&L Capital Management LLC now owns 11,689 shares of the oil and gas company’s stock worth $1,759,000 after purchasing an additional 3,105 shares in the last quarter. Total Clarity Wealth Management Inc. boosted its stake in Chevron by 6.9% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 2,993 shares of the oil and gas company’s stock worth $446,000 after buying an additional 193 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in Chevron by 23.4% in the 4th quarter. Walkner Condon Financial Advisors LLC now owns 2,430 shares of the oil and gas company’s stock valued at $362,000 after buying an additional 460 shares in the last quarter. Emerald Advisors LLC increased its stake in shares of Chevron by 4.2% in the 4th quarter. Emerald Advisors LLC now owns 5,789 shares of the oil and gas company’s stock worth $864,000 after acquiring an additional 232 shares during the last quarter. Finally, Breakwater Capital Group raised its holdings in shares of Chevron by 2.8% during the 4th quarter. Breakwater Capital Group now owns 2,618 shares of the oil and gas company’s stock worth $373,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.