Chevron (NYSE:CVX) Stock Price Up 0.5% Following Dividend Announcement

Chevron Co. (NYSE:CVX) traded up 0.5% during trading on Monday following a dividend announcement from the company. The stock traded as high as $154.42 and last traded at $153.88. 1,523,656 shares were traded during trading, a decline of 80% from the average session volume of 7,633,884 shares. The stock had previously closed at $153.07.

The newly announced dividend which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.23%. Chevron’s dividend payout ratio is currently 71.65%.

Analyst Upgrades and Downgrades

CVX has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada raised their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday. Mizuho cut their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.27.

Chevron Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $281.60 billion, a PE ratio of 16.92, a P/E/G ratio of 3.29 and a beta of 1.09. The business has a fifty day moving average of $147.07 and a 200-day moving average of $152.91.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate 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 posted $3.08 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.74 earnings per share for the current fiscal year.

Institutional Trading of Chevron

Hedge funds have recently made changes to their positions in the stock. Laffer Tengler Investments Inc. boosted its holdings in Chevron by 2.4% in the third quarter. Laffer Tengler Investments Inc. now owns 68,653 shares of the oil and gas company’s stock worth $10,110,000 after purchasing an additional 1,620 shares during the last quarter. tru Independence LLC raised its stake in Chevron by 0.9% during the 3rd quarter. tru Independence LLC now owns 32,859 shares of the oil and gas company’s stock worth $4,839,000 after acquiring an additional 293 shares during the period. Jupiter Wealth Management LLC grew its position in shares of Chevron by 142.9% during the third quarter. Jupiter Wealth Management LLC now owns 1,700 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 1,000 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Chevron by 8.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 29,055 shares of the oil and gas company’s stock valued at $4,279,000 after acquiring an additional 2,175 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of Chevron by 9.5% in the third quarter. Jaffetilchin Investment Partners LLC now owns 6,324 shares of the oil and gas company’s stock worth $931,000 after buying an additional 547 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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.