Chevron (NYSE:CVX) PT Lowered to $189.00

Chevron (NYSE:CVX) had its price target reduced by Mizuho from $205.00 to $189.00 in a research report released on Monday, Benzinga reports. They currently have an outperform rating on the oil and gas company’s stock.

Other analysts have also issued research reports about the company. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research note on Friday, July 12th. Sanford C. Bernstein downgraded shares of Chevron from an outperform rating to a market perform rating and reduced their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. Royal Bank of Canada decreased their price target on shares of Chevron from $190.00 to $180.00 and set an outperform rating for the company in a research note on Monday, August 5th. Finally, Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $182.41.

Chevron Price Performance

Chevron stock opened at $144.98 on Monday. Chevron has a 12-month low of $135.37 and a 12-month high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $148.26 and a 200-day moving average price of $154.47. The firm has a market capitalization of $265.16 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron will post 11.48 EPS for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.50%. Chevron’s dividend payout ratio is presently 59.98%.

Institutional Trading of Chevron

Several hedge funds have recently modified their holdings of the company. American Capital Advisory LLC boosted its position in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Chevron in the fourth quarter worth about $30,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Finally, Cooksen Wealth LLC purchased a new position in shares of Chevron in the 4th quarter valued at approximately $40,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.