Chevron (CVX) Upgraded at HSBC

HSBC upgraded shares of Chevron (NYSE:CVX) from a hold rating to a buy rating in a research note published on Tuesday, Marketbeat Ratings reports.

Several other research firms have also weighed in on CVX. Goldman Sachs Group restated a buy rating and set a $141.00 price objective on shares of Chevron in a research note on Tuesday, July 31st. Barclays boosted their price objective on shares of Chevron from $145.00 to $148.00 and gave the stock an overweight rating in a research note on Wednesday, July 11th. Zacks Investment Research upgraded shares of Chevron from a hold rating to a strong-buy rating and set a $147.00 price objective on the stock in a research note on Wednesday, June 13th. Mizuho began coverage on shares of Chevron in a research note on Friday, June 8th. They set a buy rating and a $145.00 price objective on the stock. Finally, Royal Bank of Canada restated a neutral rating and set a $145.00 price objective on shares of Chevron in a research note on Monday, July 2nd. Nine investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $138.17.

Chevron stock opened at $116.30 on Tuesday. The stock has a market cap of $221.87 billion, a PE ratio of 31.43, a PEG ratio of 2.04 and a beta of 1.06. Chevron has a fifty-two week low of $108.02 and a fifty-two week high of $133.88. The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.31). The firm had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The firm’s revenue for the quarter was up 22.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share. research analysts expect that Chevron will post 8.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Friday, August 17th were paid a $1.12 dividend. The ex-dividend date was Thursday, August 16th. This represents a $4.48 dividend on an annualized basis and a yield of 3.85%. Chevron’s dividend payout ratio (DPR) is currently 121.08%.

In related news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $124.20, for a total value of $589,950.00. Following the transaction, the insider now owns 4,750 shares in the company, valued at approximately $589,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Live Your Vision LLC lifted its holdings in shares of Chevron by 308.0% during the 2nd quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 616 shares during the period. Earnest Partners LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $114,000. Advisors Preferred LLC bought a new stake in shares of Chevron during the 1st quarter worth approximately $110,000. Virtue Capital Management LLC bought a new stake in shares of Chevron during the 4th quarter worth approximately $128,000. Finally, Litman Gregory Asset Management LLC lifted its holdings in shares of Chevron by 566.9% during the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 975 shares during the period. 65.02% of the stock is owned by hedge funds and other institutional investors.

About Chevron

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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Analyst Recommendations for Chevron (NYSE:CVX)

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