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

Chevron Co. (NYSE:CVX) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $182.41.

Several brokerages have recently issued reports on CVX. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Mizuho lowered their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays dropped their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently modified their holdings of the business. Pacifica Partners Inc. raised its stake in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares in the last quarter. Private Wealth Management Group LLC raised its position in shares of Chevron by 15.7% during the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC lifted its holdings in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares during the last quarter. Hubbell Strickland Wealth Management LLC grew its position in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Finally, Ellenbecker Investment Group increased its stake in Chevron by 1.5% during the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock worth $686,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 0.5 %

NYSE CVX opened at $145.68 on Monday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $148.06 and a 200 day simple moving average of $154.53. Chevron has a 12 month low of $135.37 and a 12 month high of $171.70. The firm has a market capitalization of $268.48 billion, a P/E ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. On average, analysts predict that Chevron will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 4.48%. Chevron’s payout ratio is currently 59.98%.

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.