Chevron (NYSE:CVX) Now Covered by Analysts at Melius

Melius began coverage on shares of Chevron (NYSE:CVX) in a report issued on Wednesday morning, MarketBeat reports. The brokerage issued a hold rating and a $155.00 target price on the oil and gas company’s stock.

A number of other equities analysts also recently commented on the stock. DZ Bank downgraded shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Evercore ISI restated an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price objective (down previously from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average target price of $163.95.

Chevron Stock Up 0.6%

CVX opened at $152.8990 on Wednesday. Chevron has a 52 week low of $132.04 and a 52 week high of $168.96. The business has a 50 day moving average price of $150.76 and a two-hundred day moving average price of $148.59. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market cap of $264.21 billion, a PE ratio of 19.68, a P/E/G ratio of 2.25 and a beta of 0.87.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 EPS. The company’s revenue was down 12.4% on a year-over-year basis. As a group, research analysts anticipate that Chevron will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. Chevron’s payout ratio is 88.03%.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its position in shares of Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. Elequin Capital LP acquired a new stake in Chevron during the 1st quarter valued at $31,000. 10Elms LLP acquired a new stake in Chevron during the 4th quarter valued at $29,000. IFS Advisors LLC increased its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after buying an additional 116 shares in the last quarter. Finally, Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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.