Chevron (NYSE:CVX) Upgraded at DZ Bank

DZ Bank upgraded shares of Chevron (NYSE:CVX) from a hold rating to a buy rating in a research report report published on Tuesday morning, Marketbeat.com reports. They currently have $170.00 price objective on the oil and gas company’s stock.

Other analysts have also issued research reports about the company. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank decreased their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.93.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX traded down $0.18 on Tuesday, hitting $156.59. 254,730 shares of the company traded hands, compared to its average volume of 7,637,234. The company has a market cap of $286.39 billion, a PE ratio of 17.22, a PEG ratio of 3.53 and a beta of 1.09. The stock has a 50 day simple moving average of $147.43 and a 200-day simple moving average of $152.90. Chevron has a 52 week low of $135.37 and a 52 week high of $167.11. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.05 earnings per share. As a group, research analysts expect that Chevron will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rational Advisors LLC purchased a new stake in Chevron in the 3rd quarter worth $29,000. Anfield Capital Management LLC grew its position 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 purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at approximately $47,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.