Chevron (NYSE:CVX) Shares Up 0.1%

Chevron Co. (NYSE:CVX) shares shot up 0.1% on Wednesday . The stock traded as high as $144.31 and last traded at $143.59. 1,097,503 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,729,697 shares. The stock had previously closed at $143.41.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CVX shares. UBS Group reduced their target price on shares of Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday. Royal Bank of Canada reduced their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, August 5th. Truist Financial lowered their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Wolfe Research started coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Price Performance

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 firm has a market cap of $263.53 billion, a P/E ratio of 13.21, a PEG ratio of 2.41 and a beta of 1.09. The company’s 50-day moving average is $148.69 and its two-hundred day moving average is $154.61.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 13.70% and a net margin of 9.31%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $3.08 EPS. Sell-side analysts anticipate that Chevron Co. will post 11.57 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is presently 59.98%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CVX. Eagle Capital Management LLC lifted its stake in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after purchasing an additional 163 shares during the last quarter. Lane & Associates LLC bought a new position in shares of Chevron in the 1st quarter valued at $345,000. Seven Mile Advisory boosted its holdings in shares of Chevron by 9.8% during the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after acquiring an additional 247 shares in the last quarter. KCM Investment Advisors LLC grew its position in Chevron by 2.5% during the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory acquired a new position in Chevron in the 4th quarter worth about $46,000. 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.