BNP Paribas upgraded shares of Chevron Corporation (NYSE:CVX) from an underperform rating to a neutral rating in a research report report published on Monday, August 7th. BNP Paribas currently has $105.00 price objective on the oil and gas company’s stock.
Other equities analysts also recently issued reports about the company. TheStreet raised Chevron Corporation from a c rating to a b rating in a research report on Tuesday, May 2nd. Scotiabank set a $114.00 price target on Chevron Corporation and gave the stock a buy rating in a research report on Monday, May 1st. Bank of America Corporation reaffirmed a buy rating and set a $135.00 price target (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. Jefferies Group LLC reaffirmed a buy rating and set a $147.00 price target on shares of Chevron Corporation in a research report on Tuesday, April 11th. Finally, HSBC Holdings plc raised Chevron Corporation from a hold rating to a buy rating and reduced their price target for the stock from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $116.80.
Shares of Chevron Corporation (NYSE:CVX) opened at 106.48 on Monday. The firm’s 50-day moving average price is $106.43 and its 200 day moving average price is $107.47. Chevron Corporation has a 52 week low of $97.53 and a 52 week high of $119.00. The stock has a market capitalization of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23.
Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.78) earnings per share. Analysts expect that Chevron Corporation will post $3.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 18th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is currently 140.26%.
In other news, insider James William Johnson sold 31,000 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,312 shares of company stock worth $8,008,343. Corporate insiders own 0.38% of the company’s stock.
Large investors have recently bought and sold shares of the company. Pathstone Family Office LLC increased its position in Chevron Corporation by 2.5% in the second quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock valued at $2,170,000 after buying an additional 20 shares during the period. Shine Investment Advisory Services Inc. bought a new position in Chevron Corporation during the second quarter valued at $106,000. Thompson Davis & CO. Inc. increased its position in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Chevron Corporation during the fourth quarter valued at $139,000. Finally, Winfield Associates Inc. increased its position in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the period. 62.75% of the stock is currently owned by institutional investors and hedge funds.
Chevron Corporation 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.
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