Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant. The Downstream segment engages in refining crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels; transporting crude oil and refined products by pipeline, marine vessel, motor equipment, and rail car; and manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives. It is also involved in the cash management and debt financing activities; insurance operations; real estate activities; and technology businesses. The company was formerly known as ChevronTexaco Corporation and changed its name to Chevron Corporation in 2005. Chevron Corporation was founded in 1879 and is based in San Ramon, California.
Analysts Set New Price Targets
Several brokerages recently issued reports on CVX. Cowen boosted their price objective on Chevron from $119.00 to $120.00 and gave the company an "outperform" rating in a research report on Monday. Citigroup reduced their price target on Chevron from $170.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, July 13th. Morgan Stanley upped their price target on Chevron from $185.00 to $190.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 19th. Societe Generale raised Chevron from a "hold" rating to a "buy" rating in a research report on Thursday, August 4th. Finally, Royal Bank of Canada downgraded Chevron from an "outperform" rating to a "sector perform" rating and upped their price target for the stock from $160.00 to $165.00 in a research report on Thursday, April 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $169.00.
Chevron Stock Down 1.9 %
CVX opened at $156.81 on Tuesday. Chevron has a 1-year low of $92.86 and a 1-year high of $182.40. The stock's fifty day simple moving average is $151.99 and its 200 day simple moving average is $156.82. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15. The stock has a market cap of $308.10 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.64 and a beta of 1.15.
Chevron (NYSE:CVX - Get Rating) last issued its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping analysts' consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analysts' expectations of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. Chevron's revenue was up 82.9% on a year-over-year basis. During the same quarter last year, the business earned $1.71 earnings per share. As a group, research analysts expect that Chevron will post 17.75 earnings per share for the current year.
Chevron Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.62%. Chevron's dividend payout ratio (DPR) is 37.89%.
Insider Transactions at Chevron
In other news, CFO Pierre R. Breber sold 22,500 shares of the business's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the completion of the sale, the chief financial officer now owns 7 shares in the company, valued at $1,106.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Chevron news, CFO Pierre R. Breber sold 22,500 shares of the business's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the transaction, the chief financial officer now owns 7 shares of the company's stock, valued at $1,106.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Wanda M. Austin sold 12,039 shares of the business's stock in a transaction on Friday, May 27th. The stock was sold at an average price of $177.29, for a total value of $2,134,394.31. Following the completion of the transaction, the director now directly owns 3,543 shares in the company, valued at approximately $628,138.47. The disclosure for this sale can be found here. Insiders sold 199,070 shares of company stock worth $34,022,033 over the last ninety days. 0.32% of the stock is owned by insiders.
