Chevron (NYSE:CVX) Stock Price Down 0.2%

Shares of Chevron Co. (NYSE:CVX) traded down 0.2% on Friday . The company traded as low as $160.88 and last traded at $161.59. 1,339,947 shares were traded during trading, a decline of 83% from the average session volume of 7,846,817 shares. The stock had previously closed at $161.97.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler raised their price target on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Raymond James raised their price target on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. TD Cowen raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Truist Financial raised their price target on shares of Chevron from $156.00 to $166.00 and gave the stock a “hold” rating in a research report on Friday, May 10th. Finally, UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $186.22.

Chevron Price Performance

The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $296.87 billion, a P/E ratio of 14.87, a PEG ratio of 2.56 and a beta of 1.10. The business has a 50 day simple moving average of $157.47 and a 200-day simple moving average of $155.31.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion for the quarter, compared to analysts’ expectations of $48.42 billion. During the same period in the previous year, the business earned $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Analysts predict that Chevron Co. will post 12.6 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Chevron news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares in the company, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold a total of 16,746 shares of company stock worth $2,727,971 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the stock. Berkshire Hathaway Inc increased 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. increased its stake in Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Norges Bank purchased a new position in Chevron in the 4th quarter worth about $2,902,007,000. Bank of New York Mellon Corp increased its stake in Chevron by 4.2% in the 1st quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company’s stock worth $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Finally, Capital World Investors increased its stake in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock worth $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. Hedge funds and other 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.