Chevron Co. (NYSE:CVX) Given Consensus Rating of “Moderate Buy” by Analysts

Chevron Co. (NYSE:CVX) has been given a consensus recommendation of “Moderate Buy” by the seventeen analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $173.07.

CVX has been the topic of a number of research analyst reports. UBS Group boosted their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $170.00 price target on shares of Chevron in a research note on Tuesday, October 8th. Bank of America assumed coverage on shares of Chevron in a report on Thursday. They issued a “buy” rating and a $168.00 price target on the stock. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th.

Hedge Funds Weigh In On Chevron

A number of large investors have recently modified their holdings of CVX. Massachusetts Financial Services Co. MA grew its position 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 valued at $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. Wulff Hansen & CO. boosted its stake in Chevron by 15,542.0% during the second quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock valued at $183,896,000 after buying an additional 1,168,137 shares during the period. Global Assets Advisory LLC purchased a new position in Chevron during the first quarter worth about $156,482,000. Capital International Investors increased its stake in Chevron by 5.9% in the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Chevron by 38.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,445,005 shares of the oil and gas company’s stock worth $382,448,000 after acquiring an additional 681,394 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Shares of NYSE CVX opened at $151.19 on Friday. The company has a market capitalization of $276.51 billion, a PE ratio of 14.97, a PEG ratio of 2.74 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $145.96 and its 200-day moving average price is $153.76. Chevron has a twelve month low of $135.37 and a twelve month high of $170.17.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.08 EPS. On average, equities analysts anticipate that Chevron will post 11.06 EPS for the current 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 4.31%. Chevron’s dividend payout ratio (DPR) is 64.55%.

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.