Chevron (NYSE:CVX) Trading Down 0.2%

Chevron Co. (NYSE:CVX) shares dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $158.14 and last traded at $159.03. Approximately 1,018,094 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 8,031,450 shares. The stock had previously closed at $159.31.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. HSBC increased their price target on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. UBS Group boosted their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Piper Sandler boosted their price objective 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, Truist Financial upped their target price on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. The company has a 50-day moving average of $159.33 and a 200-day moving average of $154.51. The stock has a market capitalization of $287.50 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.55 earnings per share. As a group, equities research analysts expect that Chevron Co. will post 13.15 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were issued a dividend of $1.63 per share. The ex-dividend date was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.18%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares in the company, valued at $45,540. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Insiders sold a total of 19,546 shares of company stock valued at $3,176,223 over the last 90 days. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Large investors have recently bought and sold shares of the stock. American Capital Advisory LLC increased its stake in Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth approximately $27,000. Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $30,000. Valued Wealth Advisors LLC purchased a new position in Chevron in the fourth quarter valued at approximately $33,000. Finally, Cooksen Wealth LLC acquired a new position in Chevron during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

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.