Chevron (NYSE:CVX) Trading Down 0.8%

Chevron Co. (NYSE:CVX) fell 0.8% during trading on Wednesday . The company traded as low as $155.42 and last traded at $156.28. 5,541,895 shares were traded during mid-day trading, a decline of 24% from the average session volume of 7,275,755 shares. The stock had previously closed at $157.59.

Analyst Ratings Changes

A number of research firms recently commented on CVX. Barclays began coverage on Chevron in a report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective for the company. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a report on Monday, January 8th. TD Cowen downgraded Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $170.00 to $150.00 in a report on Tuesday, January 23rd. Piper Sandler increased their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Raymond James increased their price target on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Performance

The firm has a market capitalization of $292.50 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $155.26 and a 200-day moving average of $151.90.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the previous year, the firm earned $4.09 EPS. Chevron’s revenue was down 16.5% on a year-over-year basis. On average, research analysts anticipate that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently modified their holdings of CVX. Picton Mahoney Asset Management acquired a new position in Chevron in the 3rd quarter worth about $26,000. Bare Financial Services Inc acquired a new position in Chevron in the 4th quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV increased its holdings in Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Chevron in the 4th quarter worth about $30,000. Finally, Valued Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

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.