Chevron (NYSE:CVX) Trading Up 1.1%

Chevron Co. (NYSE:CVX)’s stock price shot up 1.1% during mid-day trading on Tuesday . The company traded as high as $143.84 and last traded at $143.59. 1,625,242 shares were traded during mid-day trading, a decline of 79% from the average session volume of 7,734,410 shares. The stock had previously closed at $142.09.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CVX. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday. Royal Bank of Canada cut their target price on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Barclays lowered their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a report on Monday, August 5th. Finally, Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $182.41.

Chevron Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $148.47 and a 200 day simple moving average of $154.54. The company has a market cap of $263.29 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its 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). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 11.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Institutional Trading of Chevron

Hedge funds have recently added to or reduced their stakes in the stock. American Capital Advisory LLC lifted its holdings in shares of 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 purchasing an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in shares of Chevron in the 4th quarter worth $30,000. Anfield Capital Management LLC boosted its holdings in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Finally, Cooksen Wealth LLC purchased a new position in Chevron during the fourth quarter worth about $40,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.