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

Chevron Co. (NYSE:CVXGet Rating) has been given a consensus recommendation of “Buy” by the twenty-five analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $170.45.

Several equities research analysts recently weighed in on the stock. Raymond James increased their target price on shares of Chevron from $173.00 to $191.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Truist Financial cut their price target on shares of Chevron from $186.00 to $181.00 in a research note on Monday, May 2nd. Societe Generale cut shares of Chevron from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research note on Friday, May 20th. Barclays raised their price target on shares of Chevron from $148.00 to $183.00 in a research note on Wednesday, March 9th. Finally, Credit Suisse Group boosted their target price on Chevron from $180.00 to $190.00 in a report on Monday, May 2nd.

In related news, Director Enrique Hernandez, Jr. sold 39,773 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $173.99, for a total value of $6,920,104.27. Following the completion of the transaction, the director now directly owns 22,978 shares of the company’s stock, valued at approximately $3,997,942.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark A. Nelson sold 117,400 shares of the firm’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the completion of the transaction, the executive vice president now directly owns 788 shares of the company’s stock, valued at $125,662.36. The disclosure for this sale can be found here. Insiders have sold a total of 487,888 shares of company stock valued at $81,173,177 over the last three months. Insiders own 0.32% of the company’s stock.

A number of hedge funds have recently modified their holdings of CVX. Your Advocates Ltd. LLP bought a new position in Chevron during the 1st quarter valued at approximately $25,000. Cranbrook Wealth Management LLC grew its stake in shares of Chevron by 63.5% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 260 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 101 shares during the period. Avondale Wealth Management bought a new position in shares of Chevron in the 4th quarter worth approximately $26,000. Rational Advisors LLC lifted its stake in shares of Chevron by 116.3% in the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 121 shares during the period. Finally, Cordant Inc. bought a new position in shares of Chevron in the 1st quarter worth approximately $29,000. Institutional investors own 65.89% of the company’s stock.

Chevron stock traded up $0.58 during mid-day trading on Friday, hitting $177.17. 110,293 shares of the company’s stock were exchanged, compared to its average volume of 15,004,311. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. The stock has a market cap of $348.11 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.85 and a beta of 1.09. Chevron has a 1-year low of $92.86 and a 1-year high of $177.93. The stock has a 50 day moving average of $166.31 and a two-hundred day moving average of $142.35.

Chevron (NYSE:CVXGet Rating) last released its earnings results on Friday, April 29th. The oil and gas company reported $3.36 earnings per share for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a net margin of 11.10% and a return on equity of 14.66%. The company had revenue of $54.37 billion during the quarter, compared to the consensus estimate of $54.96 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 69.8% on a year-over-year basis. As a group, research analysts predict that Chevron will post 16.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Thursday, May 19th will be paid a $1.42 dividend. The ex-dividend date is Wednesday, May 18th. This represents a $5.68 annualized dividend and a yield of 3.21%. Chevron’s dividend payout ratio (DPR) is 53.38%.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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