Chevron Corporation (NYSE:CVX) Receives Consensus Recommendation of "Hold" from Brokerages

Chevron Corporation (NYSE:CVX - Get Free Report) has earned a consensus rating of "Hold" from the nineteen research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $160.24.

A number of analysts recently weighed in on the stock. Mizuho cut their target price on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler dropped their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Finally, UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research note on Monday, April 7th.

Chevron Stock Down 2.2%

CVX stock opened at $143.67 on Wednesday. The company's 50 day moving average price is $139.78 and its 200 day moving average price is $148.49. 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 has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market capitalization of $250.90 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.58 and a beta of 0.83.

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

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.76%. The ex-dividend date was Monday, May 19th. Chevron's payout ratio is currently 78.17%.

Institutional Investors Weigh In On Chevron

Hedge funds have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 122 shares during the period. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter worth $25,000. Elequin Capital LP purchased a new position in Chevron in the first quarter worth $31,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter worth $29,000. Finally, 10Elms LLP purchased a new position in Chevron in the fourth quarter worth $29,000. 72.42% of the stock is 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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