Chevron Co. (NYSE:CVX) Receives $183.82 Consensus Price Target from Brokerages

Shares of Chevron Co. (NYSE:CVX) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $183.82.

A number of research analysts have recently commented on the company. Royal Bank of Canada dropped their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho upped their price objective on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Scotiabank dropped their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. 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 Stock Performance

NYSE:CVX opened at $147.95 on Thursday. Chevron has a twelve month low of $139.62 and a twelve month high of $171.70. 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 simple moving average is $152.27 and its 200 day simple moving average is $155.61. The firm has a market capitalization of $272.67 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its quarterly 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 company had revenue of $51.18 billion for 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 company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $3.08 earnings per share. On average, analysts anticipate that Chevron will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in CVX. American Capital Advisory LLC increased its stake in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Bare Financial Services Inc bought a new stake in shares of Chevron during the fourth quarter worth about $27,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth about $30,000. Anfield Capital Management LLC raised its holdings in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Finally, Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 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.