Chevron Corp. (NYSE:CVX)‘s stock had its “overweight” rating restated by research analysts at JPMorgan Chase & Co. in a note issued to investors on Monday. They currently have a $117.00 price target on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 18.45% from the company’s current price.
CVX has been the subject of a number of other reports. Vetr downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target for the company. in a research report on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research report on Friday, August 5th. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 price target on shares of Chevron Corp. in a research report on Thursday, July 28th. Simmons upgraded shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $110.00 to $117.00 in a research report on Tuesday, August 9th. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of Chevron Corp. in a research report on Tuesday, September 6th. Thirteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Chevron Corp. currently has a consensus rating of “Buy” and a consensus target price of $105.01.
Chevron Corp. (NYSE:CVX) traded down 0.44% on Monday, reaching $98.78. The company’s stock had a trading volume of 5,781,775 shares. The firm’s market cap is $186.35 billion. Chevron Corp. has a 12 month low of $75.28 and a 12 month high of $107.58. The firm’s 50 day moving average is $101.02 and its 200-day moving average is $100.73.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $1.10. The company had revenue of $29.28 billion for the quarter, compared to analyst estimates of $25.78 billion. Chevron Corp. had a positive return on equity of 1.07% and a negative net margin of 0.64%. The company’s revenue was down 27.4% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. On average, equities research analysts anticipate that Chevron Corp. will post $1.29 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were issued a dividend of $1.07 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.33%. Chevron Corp.’s dividend payout ratio is currently -1,097.44%.
In other Chevron Corp. news, Director Inge G. Thulin bought 487 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were bought at an average price of $102.87 per share, for a total transaction of $50,097.69. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeanette L. Ourada sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $101.70, for a total transaction of $711,900.00. Following the completion of the sale, the insider now owns 7,535 shares in the company, valued at approximately $766,309.50. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
Several large investors have recently bought and sold shares of CVX. Capital Research Global Investors raised its stake in Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares in the last quarter. Jarislowsky Fraser Ltd raised its stake in Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock worth $221,830,000 after buying an additional 3,051,817 shares in the last quarter. Vanguard Group Inc. raised its stake in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock worth $13,087,581,000 after buying an additional 2,824,724 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Chevron Corp. during the second quarter worth $227,457,000. Finally, BlackRock Fund Advisors raised its stake in Chevron Corp. by 6.5% in the second quarter. BlackRock Fund Advisors now owns 32,652,251 shares of the company’s stock worth $3,422,935,000 after buying an additional 1,983,103 shares in the last quarter. Institutional investors own 62.24% of the company’s stock.
About Chevron Corp.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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