Chevron (NYSE:CVX) PT Lowered to $189.00 at UBS Group

Chevron (NYSE:CVX) had its target price lowered by UBS Group from $192.00 to $189.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.

A number of other analysts have also issued reports on CVX. Sanford C. Bernstein lowered 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 report on Wednesday, July 17th. Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an outperform rating for the company in a research report on Monday, August 5th. Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a peer perform rating on the stock. Finally, Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an outperform rating for the company in a report on Monday, September 16th. 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 currently has a consensus rating of Moderate Buy and an average price target of $182.41.

Chevron Stock Up 0.5 %

CVX stock opened at $145.65 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $148.06 and its 200 day simple moving average is $154.45. The stock has a market cap of $268.43 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. Chevron has a fifty-two week low of $135.37 and a fifty-two week high of $171.70.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CVX. Gilbert & Cook Inc. boosted its stake in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after purchasing an additional 369 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after purchasing an additional 82 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after buying an additional 4,047 shares in the last quarter. TrinityPoint Wealth LLC boosted its holdings in shares of Chevron by 6.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after acquiring an additional 680 shares during the period. Finally, Assetmark Inc. lifted its holdings in shares of Chevron by 2.4% during the fourth quarter. Assetmark Inc. now owns 118,336 shares of the oil and gas company’s stock worth $17,651,000 after purchasing an additional 2,825 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.