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

Shares of Chevron Co. (NYSE:CVX) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $174.93.

Several analysts recently commented on CVX shares. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Bank of America assumed coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock.

Chevron Trading Down 0.2 %

NYSE:CVX opened at $156.55 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. Chevron has a 52 week low of $135.37 and a 52 week high of $167.11. The firm has a market capitalization of $286.31 billion, a P/E ratio of 17.20, a P/E/G ratio of 3.51 and a beta of 1.09. The company has a fifty day moving average of $147.80 and a 200 day moving average of $152.74.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $3.05 EPS. On average, research analysts predict that Chevron will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rational Advisors LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new position in Chevron during the third quarter worth $30,000. Anfield Capital Management LLC boosted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, Krane Funds Advisors LLC purchased a new stake in shares of Chevron during the third quarter valued at $47,000. Institutional investors own 72.42% of the company’s stock.

About Chevron

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.