Chevron (NYSE:CVX) Trading 0.7% Higher

Chevron Co. (NYSE:CVX) shares shot up 0.7% on Thursday . The company traded as high as $158.01 and last traded at $157.51. 1,661,363 shares were traded during mid-day trading, a decline of 81% from the average session volume of 8,665,146 shares. The stock had previously closed at $156.35.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Royal Bank of Canada upped their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price target for the company. in a report on Tuesday, January 16th. Finally, Piper Sandler decreased their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $180.39.

Chevron Price Performance

The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $292.97 billion, a P/E ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12. The business’s fifty day moving average is $151.60 and its 200 day moving average is $152.67.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same period in the prior year, the business posted $4.09 earnings per share. Chevron’s revenue was down 16.5% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio (DPR) is presently 57.39%.

Institutional Trading of Chevron

Institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new stake in Chevron in the third quarter worth $26,000. Bare Financial Services Inc acquired a new position in Chevron during the 4th quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 80 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the fourth quarter valued at approximately $30,000. Finally, Valued Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter valued at $33,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.