Chevron (NYSE:CVX) Stock Price Down 0.3%

Chevron Co. (NYSE:CVX)’s share price traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $160.60 and last traded at $161.48. 920,258 shares were traded during trading, a decline of 89% from the average session volume of 8,397,266 shares. The stock had previously closed at $161.92.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Truist Financial cut their price target on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research note on Tuesday, February 6th. Finally, Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $184.75.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The stock’s fifty day moving average is $155.63 and its 200-day moving average is $151.66. The stock has a market capitalization of $301.88 billion, a PE ratio of 14.21, a P/E/G ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 earnings per share. As a group, equities analysts predict that Chevron Co. will post 13.58 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were given a dividend of $1.63 per share. This is a boost from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 annualized dividend and a yield of 4.01%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently bought and sold shares of the company. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter worth about $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV boosted its stake in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Chevron during the fourth quarter worth about $30,000. Finally, Valued Wealth Advisors LLC purchased a new position in Chevron during the fourth quarter worth about $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.