Chevron (NYSE:CVX) Price Target Lowered to $175.00 at Raymond James

Chevron (NYSE:CVX) had its target price cut by Raymond James from $200.00 to $175.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

CVX has been the topic of a number of other research reports. StockNews.com began coverage on shares of Chevron in a research note on Thursday, October 5th. They issued a hold rating on the stock. Morgan Stanley dropped their price target on shares of Chevron from $203.00 to $201.00 and set an equal weight rating on the stock in a research note on Tuesday, October 17th. Royal Bank of Canada reiterated an outperform rating and issued a $180.00 price target on shares of Chevron in a research note on Tuesday, October 24th. BNP Paribas upgraded shares of Chevron from a neutral rating to an outperform rating and set a $190.00 target price on the stock in a research note on Thursday, October 12th. Finally, UBS Group upped their target price on shares of Chevron from $209.00 to $210.00 and gave the company a buy rating in a research note on Wednesday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $188.89.

Chevron Stock Performance

Shares of CVX stock opened at $146.09 on Monday. Chevron has a 12 month low of $143.96 and a 12 month high of $189.68. The stock has a market cap of $272.79 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 0.74 and a beta of 1.14. The company has a current ratio of 1.43, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average price is $163.61 and its 200-day moving average price is $160.50.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). The firm had revenue of $54.08 billion during the quarter, compared to the consensus estimate of $51.41 billion. Chevron had a return on equity of 16.31% and a net margin of 12.11%. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.56 EPS. On average, equities analysts expect that Chevron will post 14.12 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s dividend payout ratio is 44.84%.

Insider Buying and Selling

In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Pierre R. Breber sold 25,000 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $164.00, for a total value of $4,100,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jeff B. Gustavson sold 3,750 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total transaction of $603,300.00. Following the completion of the sale, the vice president now directly owns 1,718 shares of the company’s stock, valued at $276,391.84. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Everett Harris & Co. CA boosted its stake in Chevron by 0.9% in the 1st quarter. Everett Harris & Co. CA now owns 531,599 shares of the oil and gas company’s stock worth $86,736,000 after purchasing an additional 4,984 shares during the period. Berkeley Capital Partners LLC boosted its stake in Chevron by 13.1% in the 2nd quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock worth $2,255,000 after purchasing an additional 1,661 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Chevron by 13.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock valued at $12,582,000 after acquiring an additional 9,477 shares during the last quarter. Kooman & Associates boosted its position in shares of Chevron by 11.2% during the 2nd quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 158 shares during the last quarter. Finally, Great Lakes Retirement Inc. boosted its position in shares of Chevron by 0.9% during the 2nd quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock valued at $1,226,000 after acquiring an additional 73 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

About Chevron

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.