Mizuho Cuts Chevron (NYSE:CVX) Price Target to $186.00

Chevron (NYSE:CVX) had its price target cut by Mizuho from $188.00 to $186.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

Several other equities research analysts have also commented on CVX. Barclays lowered shares of Chevron from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $171.00 to $152.00 in a research report on Wednesday, April 23rd. HSBC lowered shares of Chevron from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $176.00 to $158.00 in a research report on Tuesday. Wells Fargo & Company decreased their price objective on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Price Performance

Shares of NYSE CVX opened at $142.14 on Tuesday. The firm has a market capitalization of $248.23 billion, a P/E ratio of 14.62, a PEG ratio of 1.46 and a beta of 0.83. Chevron has a one year low of $132.04 and a one year high of $168.96. The company’s fifty day moving average is $146.89 and its two-hundred day moving average is $151.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.93 EPS. Analysts forecast that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.81%. Chevron’s dividend payout ratio (DPR) is presently 78.17%.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 122 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the 4th quarter valued at about $25,000. Elequin Capital LP acquired a new position in shares of Chevron during the 1st quarter valued at about $31,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at about $29,000. Finally, 10Elms LLP acquired a new position in shares of Chevron during the 4th quarter valued at about $29,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.