Chevron Corporation (CVX) Given “Overweight” Rating at J P Morgan Chase & Co

J P Morgan Chase & Co restated their overweight rating on shares of Chevron Corporation (NYSE:CVX) in a research report sent to investors on Saturday.

Other equities research analysts also recently issued reports about the stock. Scotiabank reissued a buy rating and set a $113.00 price target on shares of Chevron Corporation in a research note on Friday, June 30th. Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the stock a buy rating in a research note on Saturday, June 24th. BMO Capital Markets set a $130.00 price target on shares of Chevron Corporation and gave the stock a buy rating in a research note on Thursday, June 22nd. HSBC Holdings plc raised shares of Chevron Corporation from a hold rating to a buy rating and dropped their price target for the stock from $124.00 to $119.00 in a research note on Monday, June 5th. They noted that the move was a valuation call. Finally, Citigroup Inc. dropped their price target on shares of Chevron Corporation from $129.00 to $118.00 and set a buy rating for the company in a research note on Friday, July 21st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $116.88.

Shares of Chevron Corporation (NYSE CVX) opened at 116.34 on Friday. The company’s 50-day moving average is $109.87 and its 200-day moving average is $107.14. Chevron Corporation has a one year low of $97.79 and a one year high of $119.00. The company has a market capitalization of $220.46 billion, a PE ratio of 37.72 and a beta of 1.23.

Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.78) earnings per share. Equities analysts predict that Chevron Corporation will post $3.86 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Wednesday, August 16th. Chevron Corporation’s payout ratio is 140.26%.

In related news, insider James William Johnson sold 31,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at $1,217,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Insiders have sold 72,312 shares of company stock valued at $8,008,343 in the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bogart Wealth LLC boosted its holdings in Chevron Corporation by 39.9% during the second quarter. Bogart Wealth LLC now owns 14,773 shares of the oil and gas company’s stock worth $1,541,000 after purchasing an additional 4,211 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new position in Chevron Corporation during the second quarter worth $2,121,000. W. E. Donoghue & Co. LLC acquired a new position in Chevron Corporation during the second quarter worth $15,788,000. Intl Fcstone Inc. boosted its holdings in Chevron Corporation by 133.6% during the second quarter. Intl Fcstone Inc. now owns 33,875 shares of the oil and gas company’s stock worth $3,534,000 after purchasing an additional 19,374 shares during the last quarter. Finally, M Holdings Securities Inc. boosted its holdings in Chevron Corporation by 65.5% during the second quarter. M Holdings Securities Inc. now owns 23,996 shares of the oil and gas company’s stock worth $2,504,000 after purchasing an additional 9,494 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Chevron Corporation Company Profile

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

Analyst Recommendations for Chevron Corporation (NYSE:CVX)

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