Royal Bank of Canada upgraded shares of Chevron (NYSE:CVX) to a sector perform rating in a research report report published on Wednesday, The Fly reports. They currently have $145.00 price target on the oil and gas company’s stock.
Several other equities analysts have also commented on CVX. UBS Group raised Chevron from a neutral rating to a buy rating and set a $112.95 price target on the stock in a research note on Friday, January 18th. Credit Suisse Group restated a buy rating and set a $130.00 price target on shares of Chevron in a report on Wednesday, January 23rd. Zacks Investment Research downgraded Chevron from a hold rating to a strong sell rating in a report on Thursday, January 3rd. HSBC downgraded Chevron from a buy rating to a hold rating and dropped their price objective for the company from $136.00 to $122.00 in a report on Monday, January 14th. Finally, Raymond James set a $135.00 price target on Chevron and gave the stock a buy rating in a research note on Thursday, December 20th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $134.18.
Shares of NYSE CVX opened at $122.42 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01. Chevron has a fifty-two week low of $100.22 and a fifty-two week high of $131.08. The stock has a market capitalization of $236.04 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 4.09 and a beta of 1.02.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be paid a dividend of $1.19 per share. This is an increase from Chevron’s previous quarterly dividend of $1.12. This represents a $4.76 annualized dividend and a yield of 3.89%. The ex-dividend date is Thursday, February 14th. Chevron’s payout ratio is 57.70%.
In related news, insider Jeanette L. Ourada sold 7,200 shares of the stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the sale, the insider now owns 7,200 shares in the company, valued at $838,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James William Johnson sold 4,750 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total transaction of $532,950.00. Following the completion of the sale, the insider now owns 4,750 shares of the company’s stock, valued at approximately $532,950. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CVX. Smith Asset Management Group LP grew its holdings in Chevron by 6.0% during the 2nd quarter. Smith Asset Management Group LP now owns 140,497 shares of the oil and gas company’s stock worth $17,758,000 after acquiring an additional 7,954 shares during the period. South Texas Money Management Ltd. lifted its position in Chevron by 2.4% in the 2nd quarter. South Texas Money Management Ltd. now owns 369,397 shares of the oil and gas company’s stock valued at $46,703,000 after acquiring an additional 8,519 shares in the last quarter. Sterling Investment Management Inc. lifted its position in Chevron by 53.7% in the 2nd quarter. Sterling Investment Management Inc. now owns 8,236 shares of the oil and gas company’s stock valued at $1,041,000 after acquiring an additional 2,877 shares in the last quarter. Wesbanco Bank Inc. lifted its position in Chevron by 5.0% in the 2nd quarter. Wesbanco Bank Inc. now owns 252,899 shares of the oil and gas company’s stock valued at $31,974,000 after acquiring an additional 12,134 shares in the last quarter. Finally, Madison Investment Holdings Inc. lifted its position in Chevron by 9.5% in the 2nd quarter. Madison Investment Holdings Inc. now owns 276,249 shares of the oil and gas company’s stock valued at $34,926,000 after acquiring an additional 23,891 shares in the last quarter. 64.62% of the stock is owned by institutional investors.
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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