Chevron (NYSE:CVX) Shares Up 0.4%

Chevron Co. (NYSE:CVX)’s share price traded up 0.4% during mid-day trading on Monday . The company traded as high as $143.16 and last traded at $141.17. 1,239,430 shares traded hands during trading, a decline of 84% from the average session volume of 7,738,618 shares. The stock had previously closed at $140.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday. Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.41.

Chevron Price Performance

The firm has a market cap of $263.29 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.41 and a beta of 1.09. The firm’s fifty day simple moving average is $148.69 and its 200 day simple moving average is $154.61. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. Chevron’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Chevron Co. will post 11.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Verity & Verity LLC raised its position in Chevron by 1.3% during the second quarter. Verity & Verity LLC now owns 164,657 shares of the oil and gas company’s stock valued at $25,756,000 after purchasing an additional 2,176 shares during the period. Heritage Wealth Management Inc. bought a new position in shares of Chevron during the 2nd quarter valued at approximately $4,007,000. Lazari Capital Management Inc. increased its position in shares of Chevron by 23.0% during the 2nd quarter. Lazari Capital Management Inc. now owns 4,067 shares of the oil and gas company’s stock valued at $636,000 after purchasing an additional 761 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Chevron during the 2nd quarter valued at $64,869,000. Finally, Creekside Partners bought a new stake in Chevron in the second quarter worth $1,391,000. Institutional investors 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.