Morgan Stanley set a $146.00 target price on Chevron (NYSE:CVX) in a research report report published on Monday, Stock Target Advisor reports. The brokerage currently has a buy rating on the oil and gas company’s stock.
A number of other brokerages have also recently issued reports on CVX. Royal Bank of Canada raised shares of Chevron to a sector perform rating and set a $145.00 target price on the stock in a report on Wednesday, March 6th. Barclays raised their target price on shares of Chevron from $140.00 to $150.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Mizuho reissued a buy rating and issued a $140.00 target price on shares of Chevron in a report on Wednesday, March 6th. Citigroup assumed coverage on shares of Chevron in a report on Monday, May 13th. They issued a buy rating and a $135.00 target price on the stock. Finally, Cowen reissued a buy rating and issued a $142.00 target price on shares of Chevron in a report on Wednesday, April 17th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Chevron presently has a consensus rating of Buy and a consensus target price of $135.26.
Shares of NYSE CVX opened at $123.93 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.12 and a debt-to-equity ratio of 0.17. The stock has a 50-day simple moving average of $120.41. Chevron has a 52-week low of $100.22 and a 52-week high of $128.55. The company has a market capitalization of $236.83 billion, a PE ratio of 15.02, a P/E/G ratio of 3.57 and a beta of 0.98.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.13. Chevron had a net margin of 8.45% and a return on equity of 9.07%. The firm had revenue of $35.20 billion for the quarter, compared to analysts’ expectations of $38.42 billion. During the same quarter last year, the company posted $1.90 earnings per share. Chevron’s revenue was down 6.8% on a year-over-year basis. On average, research analysts anticipate that Chevron will post 7.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.19 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $4.76 annualized dividend and a dividend yield of 3.84%. Chevron’s payout ratio is currently 57.70%.
In related news, insider James William Johnson sold 4,750 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $125.60, for a total transaction of $596,600.00. Following the transaction, the insider now owns 4,750 shares in the company, valued at $596,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 4,200 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $122.13, for a total transaction of $512,946.00. Following the transaction, the director now owns 15,689 shares in the company, valued at approximately $1,916,097.57. The disclosure for this sale can be found here. Insiders sold 44,800 shares of company stock worth $5,604,221 in the last 90 days. 0.31% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Weaver Consulting Group acquired a new position in shares of Chevron during the first quarter valued at approximately $405,000. WealthPLAN Partners LLC increased its stake in shares of Chevron by 3.4% during the first quarter. WealthPLAN Partners LLC now owns 7,584 shares of the oil and gas company’s stock valued at $926,000 after acquiring an additional 250 shares during the period. Horizon Investments LLC grew its position in Chevron by 39.5% in the first quarter. Horizon Investments LLC now owns 13,966 shares of the oil and gas company’s stock worth $1,704,000 after buying an additional 3,954 shares during the last quarter. B. Riley Wealth Management Inc. grew its position in Chevron by 2.3% in the first quarter. B. Riley Wealth Management Inc. now owns 48,346 shares of the oil and gas company’s stock worth $5,955,000 after buying an additional 1,076 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in Chevron in the first quarter worth approximately $202,000. Institutional investors and hedge funds own 65.39% of the company’s stock.
Chevron Company Profile
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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