Chevron Co. (NYSE:CVX) Given Average Recommendation of “Moderate Buy” by Brokerages

Chevron Co. (NYSE:CVX) has been assigned an average rating of “Moderate Buy” from the nineteen research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $180.24.

Several brokerages recently weighed in on CVX. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. UBS Group reduced their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wells Fargo & Company dropped their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Truist Financial dropped their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th.

Chevron Trading Up 2.5 %

Shares of Chevron stock opened at $145.51 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market capitalization of $266.13 billion, a P/E ratio of 13.39, a PEG ratio of 2.68 and a beta of 1.09. Chevron has a 1 year low of $135.37 and a 1 year high of $171.70. The company’s fifty day moving average is $146.90 and its two-hundred day moving average is $154.34.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the firm earned $3.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts forecast that Chevron will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.48%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. American Capital Advisory LLC raised its holdings in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $40,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.