Chevron Corporation (NYSE:CVX) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Chevron has received a consensus rating of "Hold" from 20 research firms, with a 12-month target price averaging $164.11.
• The company is expected to post an EPS of 10.79 for the current year, despite a 12.4% year-over-year revenue decline in the last quarter.
• Chevron announced a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.4%.

Shares of Chevron Corporation (NYSE:CVX - Get Free Report) have earned a consensus recommendation of "Hold" from the twenty analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $164.1111.

Several equities analysts have weighed in on the company. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 target price for the company. in a research report on Tuesday, May 6th. HSBC cut Chevron from a "buy" rating to a "hold" rating and decreased their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Scotiabank restated a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd raised its stake in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. 10Elms LLP acquired a new position in Chevron in the 4th quarter valued at about $29,000. Elequin Capital LP acquired a new position in Chevron in the 1st quarter valued at about $31,000. Quaker Wealth Management LLC raised its stake in Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Finally, Navigoe LLC acquired a new position in Chevron in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Trading Up 0.9%

Shares of NYSE:CVX traded up $1.36 during midday trading on Thursday, reaching $156.52. 11,612,300 shares of the company's stock were exchanged, compared to its average volume of 9,386,901. The firm's 50 day simple moving average is $149.80 and its two-hundred day simple moving average is $148.59. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The stock has a market cap of $270.46 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.34 and a beta of 0.87. Chevron has a fifty-two week low of $132.04 and a fifty-two week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%. Chevron's revenue was down 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 EPS. As a group, sell-side analysts forecast that Chevron will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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