Chevron (NYSE:CVX) Shares Down 0.9% – What’s Next?

Chevron Co. (NYSE:CVX) fell 0.9% during mid-day trading on Friday . The company traded as low as $149.61 and last traded at $149.91. 1,187,698 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 7,686,938 shares. The stock had previously closed at $151.20.

Wall Street Analyst Weigh In

CVX has been the subject of a number of analyst reports. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. UBS Group lifted their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Bank of America initiated coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 target price on shares of Chevron in a report on Tuesday, October 8th. Finally, Wells Fargo & Company cut their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Five equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Trading Down 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 firm has a 50 day moving average price of $146.07 and a 200 day moving average price of $153.66. The stock has a market capitalization of $277.83 billion, a PE ratio of 13.87, a P/E/G ratio of 2.74 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the previous year, the company posted $3.08 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. Equities analysts expect that Chevron Co. will post 11.06 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently modified their holdings of CVX. Anfield Capital Management LLC lifted its holdings in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Chevron during the third quarter valued at about $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Chevron during the first quarter worth about $55,000. Finally, Richardson Capital Management LLC bought a new stake in Chevron in the first quarter worth about $58,000. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

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.