Chevron (NYSE:CVX) Given New $186.00 Price Target at Mizuho

Chevron (NYSE:CVX) had its price target lowered by Mizuho from $188.00 to $186.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

Several other analysts also recently commented on CVX. Wells Fargo & Company dropped their price objective on Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Raymond James dropped their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective on the stock. in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $160.24.

Chevron Stock Performance

CVX stock opened at $142.31 on Tuesday. The business’s fifty day moving average is $147.51 and its 200-day moving average is $151.94. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market cap of $250.55 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. Chevron has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.93 EPS. Equities research analysts forecast that Chevron will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Monday, May 19th. Chevron’s payout ratio is 78.17%.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently modified their holdings of CVX. Norges Bank bought a new position in Chevron during the fourth quarter worth about $3,017,750,000. GQG Partners LLC bought a new position in Chevron during the first quarter worth about $1,466,751,000. Nuveen LLC bought a new position in Chevron during the first quarter worth about $1,362,232,000. Raymond James Financial Inc. bought a new position in Chevron during the fourth quarter worth about $1,036,302,000. Finally, GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% during the first quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Institutional investors own 72.42% of the company’s stock.

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.