Chevron Co. (NYSE:CVX) has been given a consensus recommendation of “Buy” by the nineteen brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $137.81.
CVX has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on Chevron from $146.00 to $144.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Cowen set a $140.00 price objective on Chevron and gave the stock a “buy” rating in a report on Tuesday, October 15th. Barclays initiated coverage on Chevron in a report on Monday, August 19th. They set an “overweight” rating and a $145.00 price objective for the company. BMO Capital Markets initiated coverage on Chevron in a report on Tuesday, August 20th. They set an “outperform” rating and a $165.00 price objective for the company. Finally, ValuEngine upgraded Chevron from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
In other news, CFO Pierre R. Breber sold 15,000 shares of Chevron stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $124.97, for a total value of $1,874,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael K. Wirth sold 33,750 shares of Chevron stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $125.00, for a total transaction of $4,218,750.00. Following the completion of the sale, the chief executive officer now owns 33,750 shares of the company’s stock, valued at $4,218,750. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,750 shares of company stock valued at $10,648,200. 0.31% of the stock is owned by company insiders.
Chevron stock traded down $0.61 during midday trading on Friday, reaching $114.74. 5,362,795 shares of the company’s stock were exchanged, compared to its average volume of 5,651,156. Chevron has a 52 week low of $100.22 and a 52 week high of $127.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 1.15. The firm has a market cap of $218.98 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 4.38 and a beta of 0.99. The stock’s 50-day simple moving average is $118.43 and its 200 day simple moving average is $120.49.
Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.53. Chevron had a return on equity of 9.58% and a net margin of 9.18%. The business had revenue of $38.85 billion during the quarter, compared to analysts’ expectations of $40.14 billion. During the same quarter last year, the company posted $1.78 earnings per share. Chevron’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts forecast that Chevron will post 6.16 earnings per share for the current year.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production 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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