Chevron Co. (NYSE:CVX) Receives Consensus Rating of “Moderate Buy” from Brokerages

by · The Markets Daily

Shares of Chevron Co. (NYSE:CVX – Get Free Report) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $180.24.

CVX has been the topic of a number of research reports. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada decreased their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. UBS Group lowered their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th.

Get Our Latest Stock Analysis on CVX

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in CVX. American Capital Advisory LLC grew its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Chevron during the fourth quarter valued at $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its holdings in shares of Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in Chevron in the fourth quarter worth about $40,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Stock Performance

NYSE CVX opened at $145.49 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. Chevron has a 1-year low of $135.37 and a 1-year high of $171.70. The business has a 50 day simple moving average of $146.63 and a two-hundred day simple moving average of $154.31. The stock has a market capitalization of $268.13 billion, a PE ratio of 13.38, a P/E/G ratio of 2.68 and a beta of 1.09.

Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $3.08 earnings per share. On average, research analysts predict that Chevron will post 11.02 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.48%. Chevron’s payout ratio is 59.98%.

About Chevron

(Get Free Report

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.

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