Chevron Co. (NYSE:CVX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Chevron Co. (NYSE:CVXGet Free Report) have earned an average recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $180.95.

Several equities analysts have recently commented on the company. Mizuho lowered their target price on Chevron from $215.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, November 14th. Truist Financial lowered their target price on Chevron from $175.00 to $169.00 and set a “hold” rating for the company in a report on Tuesday, October 24th. TD Cowen lowered Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. UBS Group decreased their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, December 14th. Finally, Sanford C. Bernstein raised Chevron from a “market perform” rating to an “outperform” rating and decreased their price objective for the stock from $184.00 to $182.00 in a report on Thursday, November 2nd.

Check Out Our Latest Report on Chevron

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently modified their holdings of CVX. Cantor Fitzgerald Investment Advisor L.P lifted its position in shares of Chevron by 85.1% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock valued at $25,908,000 after acquiring an additional 73,141 shares during the last quarter. Axiom Financial Strategies LLC lifted its position in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock valued at $1,155,000 after acquiring an additional 1,476 shares during the last quarter. GQG Partners LLC lifted its position in shares of Chevron by 4.7% during the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC lifted its position in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock valued at $950,000 after acquiring an additional 1,770 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Chevron by 13.8% during the 1st quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after acquiring an additional 250,840 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Chevron Trading Down 2.0 %

Shares of NYSE CVX opened at $151.04 on Friday. The stock’s 50 day moving average price is $147.87 and its two-hundred day moving average price is $154.52. Chevron has a 52-week low of $139.62 and a 52-week high of $173.51. The stock has a market capitalization of $285.13 billion, a P/E ratio of 13.30, a PEG ratio of 0.83 and a beta of 1.13. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.12.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.09 earnings per share. On average, analysts anticipate that Chevron will post 13.03 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.63 per share. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 53.17%.

About Chevron

(Get Free Report

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.

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Analyst Recommendations for Chevron (NYSE:CVX)

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