Chevron Co. (NYSE:CVX) was downgraded to market perform

Chevron Co. (NYSE:CVX) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Shares of Chevron (NYSE:CVX) opened at 96.44 on Tuesday. The firm has a 50-day moving average price of $88.06 and a 200 day moving average price of $86.97. The company has a market cap of $181.61 billion and a price-to-earnings ratio of 39.36. Chevron has a 1-year low of $69.58 and a 1-year high of $112.20.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 29th. The company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.77. The firm earned $29.25 billion during the quarter, compared to analysts’ expectations of $29.70 billion. On average, analysts predict that Chevron will post $1.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 10th. Shareholders of record on Thursday, February 18th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, February 16th. This represents a $4.28 dividend on an annualized basis and a yield of 4.44%.