Chevron (NYSE:CVX) Now Covered by Analysts at Bank of America

Bank of America initiated coverage on shares of Chevron (NYSE:CVX) in a research report report published on Thursday, MarketBeat reports. The firm issued a buy rating and a $168.00 price target on the oil and gas company’s stock.

Several other analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Wells Fargo & Company reduced their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. Barclays lowered their target price on Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, UBS Group increased their price target on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Up 1.7 %

NYSE:CVX opened at $151.19 on Thursday. Chevron has a 52 week low of $135.37 and a 52 week high of $170.17. The firm has a 50-day moving average price of $145.96 and a two-hundred day moving average price of $153.76. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market cap of $276.51 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm posted $3.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Chevron will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 64.55%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CVX. Anfield Capital Management LLC increased its stake in Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC raised its stake in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Krane Funds Advisors LLC bought a new stake in Chevron during the third quarter valued at approximately $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Chevron in the 1st quarter worth approximately $55,000. Finally, Richardson Capital Management LLC bought a new position in shares of Chevron in the 1st quarter worth $58,000. 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.