Chevron Corporation (NYSE:CVX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Chevron Corporation (NYSE:CVX) has earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $205.6957.

A number of equities research analysts have weighed in on CVX shares. Melius Research raised Chevron from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a report on Tuesday, February 17th. Zacks Research cut Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings downgraded Chevron from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Tudor Pickering upgraded Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, April 9th. Finally, BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 target price for the company in a research note on Friday, April 17th.

Chevron Price Performance

Shares of NYSE:CVX opened at $179.08 on Wednesday. The firm has a 50 day moving average of $188.01 and a 200-day moving average of $178.70. The stock has a market capitalization of $356.65 billion, a PE ratio of 31.07, a PEG ratio of 0.59 and a beta of 0.48. The company has a current ratio of 1.09, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. Chevron has a 12 month low of $142.40 and a 12 month high of $214.71.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The business had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $2.18 EPS. On average, equities research analysts predict that Chevron will post 15.88 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s dividend payout ratio is currently 123.40%.

Insider Buying and Selling

In related news, insider R. Hewitt Pate sold 40,200 shares of the firm’s stock in a transaction on Monday, March 30th. The stock was sold at an average price of $213.30, for a total transaction of $8,574,660.00. Following the sale, the insider owned 8,638 shares of the company’s stock, valued at $1,842,485.40. This trade represents a 82.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 380,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 615,200 shares of company stock worth $118,022,760 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of CVX. Dakota Wealth Management boosted its holdings in Chevron by 14.9% during the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock worth $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Brooklyn FI LLC purchased a new position in shares of Chevron in the 3rd quarter worth approximately $431,000. Clear Trail Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $10,167,000. Finemark National Bank & Trust lifted its holdings in Chevron by 40.3% during the third quarter. Finemark National Bank & Trust now owns 56,535 shares of the oil and gas company’s stock worth $8,779,000 after acquiring an additional 16,243 shares during the period. Finally, Curtis Advisory Group LLC bought a new stake in Chevron during the fourth quarter worth $1,381,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.