Chevron Corporation (NYSE:CVX) had its target price lowered by Citigroup Inc. from $129.00 to $118.00 in a research report report published on Friday, July 21st. Citigroup Inc. currently has a buy rating on the oil and gas company’s stock.
Other research analysts also recently issued reports about the company. Jefferies Group LLC set a $135.00 price target on Chevron Corporation and gave the stock a buy rating in a research note on Saturday, June 24th. Barclays PLC reaffirmed an overweight rating and set a $125.00 price objective (up from $116.00) on shares of Chevron Corporation in a report on Wednesday, July 12th. Simmons decreased their price objective on Chevron Corporation from $129.00 to $124.00 and set an overweight rating on the stock in a report on Wednesday, April 19th. Scotiabank set a $114.00 price objective on Chevron Corporation and gave the stock a buy rating in a report on Monday, March 27th. Finally, Royal Bank Of Canada reaffirmed a hold rating and set a $114.00 price objective on shares of Chevron Corporation in a report on Thursday, March 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Chevron Corporation presently has a consensus rating of Buy and an average price target of $116.80.
Shares of Chevron Corporation (NYSE:CVX) traded up 0.53% during trading on Friday, reaching $106.48. 5,467,369 shares of the company’s stock were exchanged. Chevron Corporation has a 12 month low of $97.53 and a 12 month high of $119.00. The firm has a market cap of $201.78 billion, a price-to-earnings ratio of 34.53 and a beta of 1.23. The stock has a 50-day moving average price of $106.43 and a 200 day moving average price of $107.47. Chevron Corporation also was the target of unusually large options trading on Tuesday. Traders acquired 35,638 call options on the stock. This represents an increase of 544% compared to the average daily volume of 5,534 call options.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. During the same period in the prior year, the company posted ($0.78) EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post $3.81 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
In other news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares of the company’s stock, valued at $1,217,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Chevron Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. raised its stake in shares of Chevron Corporation by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the last quarter. State Street Corp raised its stake in shares of Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Capital World Investors raised its stake in shares of Chevron Corporation by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Chevron Corporation by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the last quarter. Institutional investors own 62.75% of the company’s stock.
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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