Chevron Corporation (NYSE:CVX) Given Consensus Recommendation of “Hold” by Analysts

Chevron Corporation (NYSE:CVX) has received a consensus rating of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $164.1111.

Several equities analysts recently commented on CVX shares. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research note on Friday, July 18th. DZ Bank cut shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research note on Tuesday, May 6th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, TD Cowen boosted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th.

Institutional Investors Weigh In On Chevron

Hedge funds have recently made changes to their positions in the business. Analyst IMS Investment Management Services Ltd. raised its holdings in Chevron by 1.0% during the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after buying an additional 67 shares during the last quarter. Greenfield Savings Bank raised its holdings in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after buying an additional 68 shares during the last quarter. Atwater Malick LLC raised its holdings in Chevron by 2.4% during the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock valued at $1,443,000 after buying an additional 68 shares during the last quarter. Finally, Clarity Wealth Advisors LLC raised its holdings in Chevron by 1.7% during the 2nd quarter. Clarity Wealth Advisors LLC now owns 4,170 shares of the oil and gas company’s stock valued at $597,000 after buying an additional 69 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

CVX opened at $155.75 on Thursday. The company has a market capitalization of $269.13 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 2.31 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $149.43 and a 200-day moving average price of $148.60. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.55 earnings per share. Equities analysts expect that Chevron will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

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; 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.