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

Chevron Co. (NYSE:CVX) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $182.41.

CVX has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial reduced their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Mizuho lowered their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th.

Chevron Stock Performance

Shares of CVX stock opened at $145.68 on Monday. Chevron has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a market capitalization of $268.48 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The company has a 50-day simple moving average of $148.06 and a 200 day simple moving average of $154.53. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $3.08 earnings per share. On average, sell-side analysts predict that Chevron will post 11.48 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend 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 currently 59.98%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CVX. American Capital Advisory LLC boosted its holdings 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 acquiring an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the 4th quarter worth $30,000. Anfield Capital Management LLC grew its position in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its holdings in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC bought a new position in shares of Chevron in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.