Chevron (NYSE:CVX) PT Lowered to $189.00 at Mizuho

Chevron (NYSE:CVX) had its price target cut by Mizuho from $205.00 to $189.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on CVX. Barclays reduced their target price on Chevron from $203.00 to $185.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. Sanford C. Bernstein cut shares of Chevron from an outperform rating to a market perform rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating for the company in a research note on Friday, July 12th. Wolfe Research started coverage on shares of Chevron in a research report on Thursday, July 18th. They set a peer perform rating on the stock. Finally, Truist Financial lowered their price objective on shares of Chevron from $156.00 to $154.00 and set a hold rating for the company in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $182.41.

Chevron Trading Up 0.4 %

CVX opened at $143.96 on Monday. The firm has a 50 day simple moving average of $148.47 and a 200 day simple moving average of $154.54. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $171.70. The company has a market cap of $263.29 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09. 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 (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the firm posted $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced 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. This represents a $6.52 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Berkshire Hathaway Inc increased its position in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors increased its position in shares of Chevron by 43.5% during the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Chevron by 55.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Chevron by 13.0% in the 4th quarter. Franklin Resources Inc. now owns 15,622,388 shares of the oil and gas company’s stock valued at $2,330,235,000 after buying an additional 1,797,171 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Chevron by 68,604.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,207,817 shares of the oil and gas company’s stock valued at $180,158,000 after buying an additional 1,206,059 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.