12. RESPONSIBLE CONSUMPTION AND PRODUCTION

Truist Financial Cuts Chevron (NYSE:CVX) Price Target to $170.00 – Defense World

Written by Amanda

Chevron (NYSE:CVXGet Rating) had its price target decreased by Truist Financial from $181.00 to $170.00 in a research note released on Tuesday, The Fly reports. Truist Financial currently has a hold rating on the oil and gas company’s stock.

A number of other equities research analysts also recently commented on the company. Cowen lifted their price objective on Chevron from $165.00 to $179.00 in a research report on Tuesday, June 7th. JPMorgan Chase & Co. cut Chevron from a neutral rating to an underweight rating and set a $169.00 target price on the stock. in a report on Friday, March 11th. BMO Capital Markets lifted their target price on Chevron from $140.00 to $170.00 in a report on Wednesday, March 2nd. The Goldman Sachs Group reduced their target price on Chevron from $181.00 to $162.00 and set a neutral rating on the stock in a report on Wednesday, June 22nd. Finally, Societe Generale cut Chevron from a buy rating to a hold rating and set a $175.00 target price on the stock. in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron has an average rating of Moderate Buy and a consensus price target of $169.05.

Shares of NYSE:CVX opened at $149.94 on Tuesday. The company has a market cap of $294.60 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.63 and a beta of 1.09. The company has a quick ratio of 1.22, a current ratio of 1.43 and a debt-to-equity ratio of 0.20. Chevron has a 52 week low of $92.86 and a 52 week high of $182.40. The business has a fifty day simple moving average of $165.32 and a 200-day simple moving average of $150.47.

Chevron (NYSE:CVXGet Rating) last announced its quarterly earnings data on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing analysts’ consensus estimates of $3.44 by ($0.08). The business had revenue of $54.37 billion during the quarter, compared to analysts’ expectations of $54.96 billion. Chevron had a net margin of 11.10% and a return on equity of 14.66%. Chevron’s revenue for the quarter was up 69.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. Sell-side analysts expect that Chevron will post 17.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Thursday, May 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Wednesday, May 18th. Chevron’s dividend payout ratio is currently 53.38%.

In other news, Director Wanda M. Austin sold 12,039 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $177.29, for a total transaction of $2,134,394.31. Following the completion of the transaction, the director now directly owns 3,543 shares of the company’s stock, valued at $628,138.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James William Johnson sold 55,600 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $165.94, for a total value of $9,226,264.00. Following the transaction, the executive vice president now directly owns 1,243 shares of the company’s stock, valued at $206,263.42. The disclosure for this sale can be found here. Insiders have sold 561,726 shares of company stock valued at $94,057,396 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Your Advocates Ltd. LLP bought a new position in Chevron in the 1st quarter worth approximately $25,000. Rational Advisors LLC grew its holdings in Chevron by 116.3% in the 4th quarter. Rational Advisors LLC now owns 225 shares of the oil and gas company’s stock worth $26,000 after buying an additional 121 shares in the last quarter. Cordant Inc. bought a new position in Chevron in the 1st quarter worth approximately $29,000. Curi Wealth Management LLC bought a new position in Chevron in the 4th quarter worth approximately $30,000. Finally, Joseph P. Lucia & Associates LLC bought a new position in Chevron in the 1st quarter worth approximately $30,000. 65.89% of the stock is owned by institutional investors and hedge funds.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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Source: defenseworld.net

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai