Chevron (CVX) Lowered to Buy at Goldman Sachs Group

Goldman Sachs Group downgraded shares of Chevron (NYSE:CVX) from a conviction-buy rating to a buy rating in a research note released on Monday.

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Chevron from a c+ rating to a b rating in a research note on Monday, October 23rd. Jefferies Group reissued a buy rating and issued a $137.00 target price (up previously from $113.54) on shares of Chevron in a research note on Monday, October 30th. Citigroup raised their target price on shares of Chevron from $118.00 to $128.00 and gave the company a buy rating in a research note on Monday, October 30th. Zacks Investment Research raised shares of Chevron from a hold rating to a buy rating and set a $127.00 target price on the stock in a research note on Tuesday, October 31st. Finally, Bank of America set a $125.00 target price on shares of Chevron and gave the company a buy rating in a research note on Saturday, December 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $129.84.

Chevron (NYSE:CVX) opened at $112.30 on Monday. Chevron has a one year low of $102.55 and a one year high of $133.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04. The firm has a market cap of $213,300.00, a P/E ratio of 23.20, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. During the same period in the prior year, the business posted $0.22 EPS. The business’s revenue was up 19.4% on a year-over-year basis. equities analysts expect that Chevron will post 6.44 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a dividend of $1.12 per share. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. This represents a $4.48 annualized dividend and a yield of 3.99%. Chevron’s payout ratio is 89.26%.

In related news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction on Monday, November 13th. The shares were sold at an average price of $116.85, for a total transaction of $2,716,762.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. Insiders have sold a total of 287,271 shares of company stock worth $33,335,800 in the last ninety days. 0.38% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Valley National Advisers Inc. grew its holdings in Chevron by 0.4% during the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 11 shares in the last quarter. Deschutes Portfolio Strategy LLC boosted its holdings in shares of Chevron by 0.5% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 13 shares during the period. Regis Management CO LLC boosted its holdings in shares of Chevron by 0.4% in the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 14 shares during the period. Keel Point LLC boosted its holdings in shares of Chevron by 0.5% in the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 14 shares during the period. Finally, FCG Advisors LLC boosted its holdings in shares of Chevron by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 15 shares during the period. 64.06% of the stock is owned by institutional investors.

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Chevron Company Profile

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.

Analyst Recommendations for Chevron (NYSE:CVX)

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