Chevron Corporation (NYSE:CVX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Chevron Corporation has received a consensus rating of "Hold" from 22 brokerages, with 3 sell recommendations, 8 holds, and 11 buys.
• The company's recent earnings report showed an EPS of $1.77, exceeding estimates, but revenue fell 12.4% year-over-year.
• Chevron declared a quarterly dividend of $1.71, yielding 4.5%, with a payout ratio of 88.03%.

Chevron Corporation (NYSE:CVX - Get Free Report) has been given a consensus recommendation of "Hold" by the twenty-two brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $165.05.

Several research firms have commented on CVX. UBS Group increased their price objective on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Piper Sandler increased their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price objective for the company. Bank of America upped their target price on shares of Chevron from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Wednesday, September 10th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st.

Chevron Trading Down 0.7%

Shares of Chevron stock opened at $153.53 on Friday. The company has a fifty day moving average of $156.26 and a 200 day moving average of $149.14. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last released 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm earned $2.55 EPS. The business's revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts anticipate that Chevron will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Chevron

Institutional investors have recently added to or reduced their stakes in the company. Apella Capital LLC increased its position in shares of Chevron by 21.6% during the first quarter. Apella Capital LLC now owns 10,477 shares of the oil and gas company's stock worth $1,753,000 after acquiring an additional 1,859 shares during the period. Johnson & White Wealth Management LLC increased its position in shares of Chevron by 12.1% during the first quarter. Johnson & White Wealth Management LLC now owns 3,967 shares of the oil and gas company's stock worth $664,000 after acquiring an additional 427 shares during the period. Bay Rivers Group increased its position in shares of Chevron by 8.4% during the first quarter. Bay Rivers Group now owns 1,605 shares of the oil and gas company's stock worth $268,000 after acquiring an additional 125 shares during the period. HF Advisory Group LLC purchased a new position in shares of Chevron during the first quarter worth approximately $204,000. Finally, Naples Global Advisors LLC increased its holdings in Chevron by 2.1% during the first quarter. Naples Global Advisors LLC now owns 28,781 shares of the oil and gas company's stock valued at $4,815,000 after buying an additional 586 shares during the period. Institutional investors own 72.42% of the company's stock.

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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