Chevron (NYSE:CVX) Trading 1.3% Higher

Chevron Co. (NYSE:CVX) shares traded up 1.3% on Monday . The stock traded as high as $148.41 and last traded at $147.55. 1,518,908 shares were traded during mid-day trading, a decline of 81% from the average session volume of 7,806,266 shares. The stock had previously closed at $145.68.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. Truist Financial reduced 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. UBS Group dropped their price target on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Barclays lowered their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lowered their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $182.41.

Chevron Stock Up 0.8 %

The company has a market capitalization of $270.73 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. 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 business has a 50-day moving average price of $148.06 and a 200-day moving average price of $154.53.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (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 analyst estimates of $48.68 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts anticipate that Chevron Co. will post 11.48 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.44%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its stake in Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock valued at $1,538,000 after purchasing an additional 369 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in Chevron by 1.0% in the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC raised its position in Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after acquiring an additional 4,047 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in Chevron by 6.8% in the fourth quarter. TrinityPoint Wealth LLC now owns 10,646 shares of the oil and gas company’s stock valued at $1,588,000 after acquiring an additional 680 shares during the last quarter. Finally, AXS Investments LLC grew its position in Chevron by 14.1% in the fourth quarter. AXS Investments LLC now owns 1,095 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 135 shares in the last quarter. Institutional investors and hedge funds 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.