Chevron (NYSE:CVX) Trading Up 0.1%

Chevron Co. (NYSE:CVX) shares traded up 0.1% on Wednesday . The stock traded as high as $155.95 and last traded at $153.33. 6,942,882 shares traded hands during trading, an increase of 10% from the average session volume of 6,309,199 shares. The stock had previously closed at $153.19.

Analysts Set New Price Targets

A number of brokerages have weighed in on CVX. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Mizuho lifted their price target on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Truist Financial upped their price objective on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Piper Sandler boosted their target price on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Finally, Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $186.95.

Chevron Price Performance

The company’s fifty day simple moving average is $159.32 and its 200-day simple moving average is $154.06. The stock has a market cap of $288.70 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.55 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 13.45 EPS for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total value of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $3,176,223 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC raised its stake in shares of Chevron by 5.6% in the third quarter. AlphaCore Capital LLC now owns 19,871 shares of the oil and gas company’s stock worth $3,351,000 after acquiring an additional 1,049 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its position in Chevron by 11.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 47,196 shares of the oil and gas company’s stock worth $7,958,000 after purchasing an additional 4,881 shares during the last quarter. Personal CFO Solutions LLC lifted its holdings in Chevron by 4.1% during the 3rd quarter. Personal CFO Solutions LLC now owns 15,027 shares of the oil and gas company’s stock worth $2,534,000 after buying an additional 596 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Chevron by 7.7% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 117,081 shares of the oil and gas company’s stock valued at $19,742,000 after buying an additional 8,366 shares during the period. Finally, Joseph Group Capital Management raised its position in shares of Chevron by 9.7% during the third quarter. Joseph Group Capital Management now owns 9,012 shares of the oil and gas company’s stock worth $1,520,000 after acquiring an additional 798 shares during the last quarter. 72.42% of the stock is 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.