Chevron (NYSE:CVX) Price Target Lowered to $189.00 at Mizuho

Chevron (NYSE:CVX) had its price target lowered by Mizuho from $205.00 to $189.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the oil and gas company’s stock.

CVX has been the topic of several other reports. Scotiabank lowered their target price on Chevron from $195.00 to $180.00 and set a sector outperform rating on the stock in a research report on Friday, July 12th. Sanford C. Bernstein cut Chevron from an outperform rating to a market perform rating and lowered their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an outperform rating for the company in a report on Monday, August 5th. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. Finally, Wolfe Research began coverage on shares of Chevron in a research report on Thursday, July 18th. They issued a peer perform rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of Moderate Buy and a consensus price target of $182.41.

Chevron Price Performance

NYSE CVX opened at $144.98 on Monday. The company has a 50-day moving average price of $148.26 and a 200-day moving average price of $154.47. Chevron has a 52 week low of $135.37 and a 52 week high of $171.70. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $265.16 billion, a P/E ratio of 13.34, a PEG ratio of 2.48 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its earnings results 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 business had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 earnings per share. Equities research analysts anticipate that Chevron will post 11.48 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.50%. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Verity & Verity LLC raised its stake in Chevron by 1.3% during the second quarter. Verity & Verity LLC now owns 164,657 shares of the oil and gas company’s stock valued at $25,756,000 after purchasing an additional 2,176 shares in the last quarter. Heritage Wealth Management Inc. purchased a new stake in shares of Chevron during the 2nd quarter valued at about $4,007,000. Lazari Capital Management Inc. lifted its holdings in shares of Chevron by 23.0% in the 2nd quarter. Lazari Capital Management Inc. now owns 4,067 shares of the oil and gas company’s stock valued at $636,000 after acquiring an additional 761 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Chevron in the second quarter worth about $64,869,000. Finally, Creekside Partners bought a new stake in Chevron during the second quarter worth approximately $1,391,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

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.