Chevron (NYSE:CVX) Price Target Cut to $189.00 by Analysts at UBS Group

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

A number of other research analysts have also commented on the stock. Barclays cut their price objective on shares of Chevron from $203.00 to $185.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an outperform rating on the stock in a report on Monday, September 16th. Scotiabank lowered their price objective on shares of Chevron from $195.00 to $180.00 and set a sector outperform rating for the company in a research report on Friday, July 12th. Sanford C. Bernstein cut Chevron from an outperform rating to a market perform rating and decreased their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Wolfe Research initiated coverage on shares of Chevron in a research report on Thursday, July 18th. They set a peer perform rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $182.41.

Chevron Stock Up 0.5 %

Shares of Chevron stock opened at $145.65 on Wednesday. The stock has a market capitalization of $268.43 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.48 and a beta of 1.09. The business’s 50 day simple moving average is $148.06 and its 200-day simple moving average is $154.45. Chevron has a twelve month low of $135.37 and a twelve month high of $171.70. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company 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%. Chevron’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $3.08 EPS. Equities research analysts forecast that Chevron will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

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

Institutional Trading of Chevron

Large investors have recently added to or reduced their stakes in the stock. Eagle Capital Management LLC boosted its stake in shares of Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron during the 1st quarter worth about $345,000. KCM Investment Advisors LLC increased its stake in Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after purchasing an additional 8,168 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the fourth quarter worth approximately $46,000. Finally, Hosking Partners LLP purchased a new stake in Chevron in the first quarter worth about $4,924,000. 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.