Chevron’s (CVX) Buy Rating Reaffirmed at The Goldman Sachs Group

The Goldman Sachs Group reissued their buy rating on shares of Chevron (NYSE:CVXFree Report) in a research report report published on Monday morning, Benzinga reports.

CVX has been the topic of several other research reports. Piper Sandler decreased their price target on Chevron from $188.00 to $180.00 and set an overweight rating on the stock in a research note on Thursday, March 14th. Mizuho boosted their target price on Chevron from $195.00 to $200.00 and gave the stock a buy rating in a research note on Wednesday, March 20th. TD Cowen cut shares of Chevron from an outperform rating to a market perform rating and dropped their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 23rd. Scotiabank lowered shares of Chevron from a sector outperform rating to a sector perform rating and set a $170.00 price target on the stock. in a report on Tuesday, January 16th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an outperform rating in a research note on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron has a consensus rating of Moderate Buy and an average target price of $180.39.

Read Our Latest Report on Chevron

Chevron Stock Up 0.8 %

CVX stock opened at $159.03 on Monday. The company has a market cap of $295.36 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 2.42 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. Chevron has a 52 week low of $139.62 and a 52 week high of $172.88. The business has a 50-day simple moving average of $152.23 and a 200 day simple moving average of $152.47.

Chevron (NYSE:CVXGet Free Report) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.09 EPS. Sell-side analysts anticipate that Chevron will post 13.04 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.10%. This is an increase from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the 3rd quarter valued at about $26,000. Bare Financial Services Inc bought a new position in shares of Chevron during the 4th quarter worth approximately $27,000. Valley Forge Investment Consultants Inc. ADV grew its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter valued at $30,000. Finally, Valued Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

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

Further Reading

Analyst Recommendations for Chevron (NYSE:CVX)

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