Chevron (NYSE:CVX) Downgraded by ValuEngine

ValuEngine cut shares of Chevron (NYSE:CVX) from a hold rating to a sell rating in a research report report published on Wednesday morning, ValuEngine reports.

CVX has been the topic of several other reports. BMO Capital Markets assumed coverage on shares of Chevron in a report on Tuesday, August 20th. They set an outperform rating and a $165.00 price target on the stock. Barclays assumed coverage on shares of Chevron in a report on Monday, August 19th. They set an overweight rating and a $145.00 price target on the stock. Independent Research set a $127.00 price target on shares of Chevron and gave the company a neutral rating in a report on Thursday, August 29th. Cowen set a $140.00 price target on shares of Chevron and gave the company a buy rating in a report on Friday, August 30th. Finally, Morgan Stanley cut their price target on shares of Chevron from $146.00 to $144.00 and set an overweight rating on the stock in a report on Friday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Chevron has a consensus rating of Buy and a consensus target price of $136.22.

Chevron stock opened at $121.50 on Wednesday. The company’s 50-day moving average price is $119.35 and its 200-day moving average price is $121.29. Chevron has a twelve month low of $100.22 and a twelve month high of $127.60. The company has a quick ratio of 0.91, a current ratio of 1.15 and a debt-to-equity ratio of 0.16. The company has a market cap of $230.51 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 3.05 and a beta of 1.01.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.27 EPS for the quarter, beating the consensus estimate of $1.74 by $0.53. The company had revenue of $38.85 billion for the quarter, compared to the consensus estimate of $40.14 billion. Chevron had a net margin of 9.18% and a return on equity of 9.58%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. As a group, sell-side analysts expect that Chevron will post 6.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $4.76 annualized dividend and a yield of 3.92%. Chevron’s dividend payout ratio (DPR) is 57.70%.

In related news, Director Debra L. Reed acquired 4,250 shares of the stock in a transaction on Wednesday, August 7th. The stock was bought at an average cost of $118.14 per share, with a total value of $502,095.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Michael K. Wirth sold 33,750 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $125.60, for a total transaction of $4,239,000.00. Following the completion of the sale, the chairman now directly owns 33,750 shares of the company’s stock, valued at $4,239,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,750 shares of company stock valued at $8,793,900. 0.31% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in CVX. Guidant Wealth Advisors lifted its position in shares of Chevron by 63.9% in the 2nd quarter. Guidant Wealth Advisors now owns 259 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 101 shares during the period. Evolution Wealth Advisors LLC purchased a new stake in shares of Chevron in the 2nd quarter worth approximately $34,000. Transamerica Financial Advisors Inc. purchased a new stake in shares of Chevron in the 2nd quarter worth approximately $46,000. Cordasco Financial Network lifted its position in shares of Chevron by 55.3% in the 2nd quarter. Cordasco Financial Network now owns 379 shares of the oil and gas company’s stock worth $47,000 after purchasing an additional 135 shares during the period. Finally, CKW Financial Group lifted its position in shares of Chevron by 154.0% in the 2nd quarter. CKW Financial Group now owns 414 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 251 shares during the period. 65.79% of the stock is owned by institutional investors.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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