Chevron (NYSE:CVX) Trading 1% Higher

Chevron Co. (NYSE:CVX)’s stock price shot up 1% during mid-day trading on Wednesday . The company traded as high as $152.28 and last traded at $151.18. 1,759,840 shares traded hands during trading, a decline of 77% from the average session volume of 7,803,841 shares. The stock had previously closed at $149.70.

Analysts Set New Price Targets

Several analysts have recently issued reports on CVX shares. Sanford C. Bernstein cut 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. Royal Bank of Canada decreased their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Scotiabank lowered their target price on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Truist Financial dropped their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Chevron Stock Up 0.3 %

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 company has a market cap of $274.48 billion, a PE ratio of 13.91, a P/E/G ratio of 2.64 and a beta of 1.09. The firm’s fifty day simple moving average is $146.34 and its 200-day simple moving average is $154.21.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. The firm’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.08 EPS. As a group, equities research analysts expect that Chevron Co. will post 11.02 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.34%. Chevron’s payout ratio is currently 59.98%.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Eagle Capital Management LLC lifted its position in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in Chevron in the 1st quarter valued at about $345,000. KCM Investment Advisors LLC grew its stake in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory purchased a new stake in shares of Chevron during the fourth quarter worth about $46,000. Finally, Hosking Partners LLP purchased a new position in Chevron in the first quarter valued at about $4,924,000. 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.