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

Shares of Chevron Co. (NYSE:CVX) have been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $183.82.

Several equities research analysts have recently commented on the company. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wells Fargo & Company lifted their target price on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. HSBC lifted their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lowered their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Mizuho lifted their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Pacifica Partners Inc. boosted its position in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after buying an additional 63 shares during the period. Private Wealth Management Group LLC boosted its position in shares of Chevron by 15.7% during the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after buying an additional 63 shares during the period. Montz Harcus Wealth Management LLC boosted its position in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after buying an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc raised its holdings in Chevron by 3.1% during the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 0.3 %

CVX stock opened at $144.99 on Friday. The business has a fifty day moving average price of $154.87 and a 200 day moving average price of $156.06. Chevron has a fifty-two week low of $139.62 and a fifty-two week high of $171.70. The stock has a market capitalization of $267.21 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 2.33 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.64%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the business earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Chevron will post 12.3 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.50%. Chevron’s payout ratio is 59.98%.

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.