Chevron (NYSE:CVX) Shares Up 0.6%

Shares of Chevron Co. (NYSE:CVX) shot up 0.6% on Thursday . The stock traded as high as $147.36 and last traded at $146.89. 920,727 shares were traded during trading, a decline of 88% from the average session volume of 7,731,607 shares. The stock had previously closed at $146.00.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CVX. Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Mizuho raised their target price on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Royal Bank of Canada cut their target price 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, Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a “hold” 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Up 0.3 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a market capitalization of $272.52 billion, a PE ratio of 13.60, a PEG ratio of 2.46 and a beta of 1.10. The company has a 50 day moving average price of $152.42 and a 200-day moving average price of $155.64.

Chevron (NYSE:CVX) last released its quarterly earnings results 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). 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 quarter in the prior year, the firm earned $3.08 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 11.96 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.41%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of the company. Berkshire Hathaway Inc boosted its stake in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. Norges Bank bought a new position in Chevron during the 4th quarter valued at about $2,902,007,000. Ameriprise Financial Inc. lifted its stake in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Chevron by 4.2% during the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock valued at $2,540,135,000 after acquiring an additional 654,482 shares during the period. 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.