Chevron Corporation (NYSE:CVX) Given Average Recommendation of "Hold" by Brokerages

Chevron Corporation (NYSE:CVX - Get Free Report) has been assigned a consensus rating of "Hold" from the eighteen brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $161.31.

Several equities analysts recently commented on the company. Scotiabank reiterated a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Wells Fargo & Company reiterated an "overweight" rating and issued a $165.00 price target (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Piper Sandler reaffirmed an "overweight" rating on shares of Chevron in a research report on Tuesday. Jefferies Financial Group reiterated a "buy" rating on shares of Chevron in a report on Friday. Finally, DZ Bank cut shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research report on Tuesday, May 6th.

Chevron Price Performance

Shares of NYSE:CVX opened at $149.79 on Friday. Chevron has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $261.59 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.45 and a beta of 0.83. The company has a 50-day simple moving average of $144.04 and a 200-day simple moving average of $148.67. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm's revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.93 earnings per share. On average, analysts predict that Chevron will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.57%. Chevron's dividend payout ratio (DPR) is 78.17%.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Eagle Capital Management LLC lifted its holdings in Chevron by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in Chevron by 7.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after buying an additional 2,641 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after purchasing an additional 2,182 shares during the last quarter. Millstone Evans Group LLC bought a new position in Chevron during the fourth quarter worth about $491,000. Finally, von Borstel & Associates Inc. raised its holdings in Chevron by 5.3% in the 4th quarter. von Borstel & Associates Inc. now owns 6,607 shares of the oil and gas company's stock valued at $957,000 after acquiring an additional 331 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Company Profile

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.

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