Chevron Corporation (NYSE:CVX)‘s stock had its “buy” rating reiterated by Bank of America Corporation in a research report issued on Thursday, May 11th. They currently have a $135.00 target price on the oil and gas company’s stock, down from their prior target price of $145.00. Bank of America Corporation’s price objective suggests a potential upside of 24.60% from the stock’s previous close.
CVX has been the subject of a number of other research reports. TheStreet downgraded shares of Chevron Corporation from a “b-” rating to a “c” rating in a research report on Friday, February 3rd. Simmons reduced their price target on shares of Chevron Corporation from $129.00 to $124.00 and set an “overweight” rating for the company in a research report on Wednesday, April 19th. Jefferies Group LLC restated a “buy” rating and set a $147.00 price target on shares of Chevron Corporation in a research report on Wednesday, March 8th. Evercore ISI restated an “underweight” rating on shares of Chevron Corporation in a research report on Monday, February 27th. Finally, Credit Suisse Group restated a “hold” rating on shares of Chevron Corporation in a research report on Friday, March 3rd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $119.41.
Chevron Corporation (NYSE:CVX) opened at 108.35 on Thursday. The company has a market capitalization of $205.28 billion, a PE ratio of 70.31 and a beta of 1.25. The company has a 50-day moving average price of $105.67 and a 200-day moving average price of $110.48. Chevron Corporation has a one year low of $97.53 and a one year high of $119.00.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, April 28th. The oil and gas company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.56. The business had revenue of $33.42 billion during the quarter, compared to the consensus estimate of $34.05 billion. Chevron Corporation had a net margin of 2.34% and a return on equity of 3.58%. The company’s revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) earnings per share. Analysts expect that Chevron Corporation will post $4.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Friday, May 19th were issued a dividend of $1.08 per share. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $4.32 dividend on an annualized basis and a yield of 3.99%. Chevron Corporation’s dividend payout ratio (DPR) is presently 282.35%.
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A number of large investors have recently added to or reduced their stakes in CVX. New Capital Management LP raised its stake in Chevron Corporation by 0.3% in the first quarter. New Capital Management LP now owns 1,455 shares of the oil and gas company’s stock worth $156,000 after buying an additional 4 shares during the period. Chicago Partners Investment Group LLC raised its stake in Chevron Corporation by 0.5% in the third quarter. Chicago Partners Investment Group LLC now owns 1,653 shares of the oil and gas company’s stock worth $170,000 after buying an additional 9 shares during the period. Board of Trustees of The Leland Stanford Junior University raised its stake in shares of Chevron Corporation by 0.5% in the fourth quarter. Board of Trustees of The Leland Stanford Junior University now owns 2,009 shares of the oil and gas company’s stock worth $236,000 after buying an additional 9 shares during the last quarter. Haverford Financial Services Inc. raised its stake in shares of Chevron Corporation by 0.7% in the first quarter. Haverford Financial Services Inc. now owns 2,303 shares of the oil and gas company’s stock worth $247,000 after buying an additional 16 shares during the last quarter. Finally, Orgel Wealth Management LLC raised its stake in shares of Chevron Corporation by 0.8% in the first quarter. Orgel Wealth Management LLC now owns 2,346 shares of the oil and gas company’s stock worth $252,000 after buying an additional 18 shares during the last quarter. Institutional investors own 63.25% of the company’s stock.
About Chevron Corporation
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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