Todays Report: The Chevron Corp. (CVX) Raised to Conviction-Buy at Goldman Sachs Group Inc.

The Chevron Corp. (CVX) Raised to Conviction-Buy at Goldman Sachs Group Inc.

Chevron Corp. (NYSE:CVX) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “conviction-buy” rating in a research note issued on Monday.

Other equities research analysts also recently issued reports about the stock. Vetr raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price objective on the stock in a research report on Tuesday, August 9th. Zacks Investment Research upgraded shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $118.00 target price for the company in a report on Tuesday, July 12th. Jefferies Group upped their target price on shares of Chevron Corp. from $114.00 to $116.00 and gave the company a “buy” rating in a report on Tuesday, July 12th. HSBC restated a “buy” rating and issued a $120.00 target price on shares of Chevron Corp. in a report on Sunday, October 16th. Finally, Barclays PLC restated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $105.73.

Shares of Chevron Corp. (NYSE:CVX) opened at 103.82 on Monday. The firm’s market capitalization is $195.86 billion. Chevron Corp. has a 1-year low of $75.33 and a 1-year high of $107.58. The stock’s 50 day moving average is $100.94 and its 200 day moving average is $101.75.

Chevron Corp. (NYSE:CVX) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.29. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.58%. The company had revenue of $30.14 billion for the quarter, compared to the consensus estimate of $29.71 billion. During the same period in the prior year, the firm posted $1.09 EPS. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. Equities analysts predict that Chevron Corp. will post $1.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.08 per share. This is a boost from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Wednesday, November 16th. Chevron Corp.’s dividend payout ratio (DPR) is currently -535.00%.

In other news, Director Inge G. Thulin purchased 487 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were bought at an average cost of $102.87 per share, with a total value of $50,097.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Pierre R. Breber sold 21,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total transaction of $2,074,170.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CVX. First Commonwealth Financial Corp PA boosted its stake in Chevron Corp. by 0.3% in the second quarter. First Commonwealth Financial Corp PA now owns 4,243 shares of the company’s stock valued at $444,000 after buying an additional 12 shares in the last quarter. Alpha Windward LLC boosted its stake in Chevron Corp. by 0.5% in the third quarter. Alpha Windward LLC now owns 2,728 shares of the company’s stock valued at $281,000 after buying an additional 13 shares in the last quarter. Univest Corp of Pennsylvania boosted its stake in Chevron Corp. by 0.3% in the second quarter. Univest Corp of Pennsylvania now owns 4,941 shares of the company’s stock valued at $518,000 after buying an additional 14 shares in the last quarter. Barry Investment Advisors LLC boosted its stake in Chevron Corp. by 0.6% in the second quarter. Barry Investment Advisors LLC now owns 2,699 shares of the company’s stock valued at $283,000 after buying an additional 17 shares in the last quarter. Finally, Ronna Sue Cohen boosted its stake in Chevron Corp. by 0.5% in the third quarter. Ronna Sue Cohen now owns 4,552 shares of the company’s stock valued at $468,000 after buying an additional 21 shares in the last quarter. 62.20% of the stock is currently owned by institutional investors.

Chevron Corp. Company Profile

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