Chevron (NYSE:CVX) Stock Price Down 1%

Chevron Co. (NYSE:CVX)’s share price was down 1% on Thursday . The company traded as low as $140.63 and last traded at $142.54. Approximately 2,358,065 shares traded hands during trading, a decline of 70% from the average daily volume of 7,797,038 shares. The stock had previously closed at $143.97.

Analysts Set New Price Targets

A number of analysts have weighed in on CVX shares. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Scotiabank cut their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Mizuho cut their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.41.

Chevron Stock Performance

The firm has a market cap of $260.84 billion, a P/E ratio of 13.11, a PEG ratio of 2.68 and a beta of 1.09. 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’s 50-day moving average is $147.30 and its two-hundred day moving average is $154.42.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the business earned $3.08 EPS. Chevron’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts predict that Chevron Co. will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.57%. Chevron’s dividend payout ratio is currently 59.98%.

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the company. American Capital Advisory LLC lifted its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC increased its stake in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new stake in shares of Chevron during the 4th quarter worth approximately $40,000. 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.