Scotiabank reissued their buy rating on shares of Chevron (NYSE:CVX) in a research report report published on Friday morning. The firm currently has a $130.00 target price on the oil and gas company’s stock.

CVX has been the subject of several other reports. Morgan Stanley upped their price objective on Chevron from $120.00 to $130.00 and gave the stock an overweight rating in a research report on Wednesday, October 18th. Royal Bank of Canada set a $110.00 price objective on Chevron and gave the stock a sell rating in a research report on Wednesday. Barclays upped their price objective on Chevron from $120.00 to $130.00 and gave the stock an overweight rating in a research report on Tuesday, October 10th. Piper Jaffray Companies set a $119.00 price objective on Chevron and gave the stock a buy rating in a research report on Friday, August 25th. Finally, Jefferies Group set a $130.00 price objective on Chevron and gave the stock a buy rating in a research report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Chevron presently has an average rating of Hold and a consensus target price of $124.22.

Chevron (NYSE CVX) traded up $0.16 during trading hours on Friday, hitting $124.98. The stock had a trading volume of 4,724,411 shares, compared to its average volume of 5,475,108. The company has a market cap of $237,079.84, a P/E ratio of 36.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. Chevron has a 1 year low of $102.55 and a 1 year high of $125.65.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. analysts expect that Chevron will post 4.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 17th were paid a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.46%. Chevron’s payout ratio is 125.95%.

In related news, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total transaction of $145,022.00. Following the completion of the sale, the insider now owns 1,229 shares of the company’s stock, valued at $145,022. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the sale, the chief financial officer now directly owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last three months, insiders sold 314,000 shares of company stock valued at $36,540,822. Insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HPM Partners LLC boosted its holdings in Chevron by 197.0% in the first quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after acquiring an additional 25,691 shares in the last quarter. Lincoln National Corp boosted its holdings in Chevron by 33.3% in the first quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after acquiring an additional 20,615 shares in the last quarter. Korea Investment CORP boosted its holdings in Chevron by 5.1% in the second quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock worth $154,055,000 after acquiring an additional 72,173 shares in the last quarter. Adams Natural Resources Fund Inc. boosted its holdings in Chevron by 8.8% in the second quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after acquiring an additional 48,100 shares in the last quarter. Finally, Strategic Financial Group LLC boosted its holdings in Chevron by 6.0% in the first quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after acquiring an additional 510 shares in the last quarter. 63.77% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Chevron’s (CVX) “Buy” Rating Reaffirmed at Scotiabank” was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://theolympiareport.com/2017/12/23/chevrons-cvx-buy-rating-reaffirmed-at-scotiabank.html.

Chevron 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 (NYSE:CVX)

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.