Chevron Co. (CVX) Receives Consensus Rating of “Buy” from Analysts

Shares of Chevron Co. (NYSE:CVX) have received a consensus rating of “Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $133.96.

CVX has been the topic of several recent research reports. Tudor Pickering initiated coverage on shares of Chevron in a research note on Friday, March 1st. They issued a “buy” rating and a $133.00 target price on the stock. Credit Suisse Group set a $135.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Saturday, February 2nd. Raymond James set a $135.00 price target on shares of Chevron and gave the company a “buy” rating in a research report on Thursday, December 20th. Societe Generale cut their price target on shares of Chevron from $150.00 to $128.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Finally, UBS Group upgraded shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price target on the stock in a research report on Friday, January 18th.

In other Chevron news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total transaction of $532,950.00. Following the sale, the insider now directly owns 4,750 shares in the company, valued at approximately $532,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeanette L. Ourada sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $116.50, for a total transaction of $838,800.00. Following the sale, the insider now owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. Insiders have sold a total of 16,700 shares of company stock worth $1,964,740 over the last 90 days. Corporate insiders own 0.46% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. CKW Financial Group boosted its position in Chevron by 123.5% during the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 200 shares during the period. Portfolio Solutions LLC bought a new position in Chevron during the fourth quarter worth $42,000. Highwater Wealth Management LLC bought a new position in Chevron during the fourth quarter worth $51,000. PRW Wealth Management LLC bought a new position in Chevron during the fourth quarter worth $52,000. Finally, Ironwood Financial llc boosted its position in Chevron by 94.2% during the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 66.07% of the company’s stock.

Shares of NYSE CVX traded down $1.05 during mid-day trading on Wednesday, hitting $123.88. The company’s stock had a trading volume of 271,035 shares, compared to its average volume of 5,824,700. The firm has a market capitalization of $237.37 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 3.80 and a beta of 1.03. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. Chevron has a one year low of $100.22 and a one year high of $131.08.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. The company had revenue of $42.35 billion for the quarter, compared to analyst estimates of $41.46 billion. Chevron had a net margin of 8.91% and a return on equity of 9.78%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. As a group, equities research analysts anticipate that Chevron will post 6.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 15th were issued a dividend of $1.19 per share. This is an increase from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 annualized dividend and a yield of 3.84%. The ex-dividend date was Thursday, February 14th. Chevron’s dividend payout ratio (DPR) is 57.70%.

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.

See Also: Cost of Goods Sold (COGS)

Analyst Recommendations for Chevron (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.