Chevron (NYSE:CVX) Trading Up 0.2%

Chevron Co. (NYSE:CVX)’s stock price traded up 0.2% on Friday . The company traded as high as $147.26 and last traded at $147.11. 1,647,683 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 7,847,686 shares. The stock had previously closed at $146.80.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. Piper Sandler boosted their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Truist Financial cut their target price on shares of Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday, August 5th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Finally, Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Trading Up 0.3 %

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 firm has a market cap of $271.28 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10. The company’s fifty day moving average price is $154.00 and its two-hundred day moving average price is $155.93.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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 return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the firm posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is presently 59.98%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in shares of Chevron by 4.9% in the 4th quarter. International Assets Investment Management LLC now owns 21,470 shares of the oil and gas company’s stock worth $3,202,000 after purchasing an additional 1,005 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new position in Chevron during the 4th quarter worth approximately $83,000. Elite Wealth Management Inc. lifted its holdings in Chevron by 26.8% during the fourth quarter. Elite Wealth Management Inc. now owns 4,737 shares of the oil and gas company’s stock worth $707,000 after acquiring an additional 1,000 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Chevron in the fourth quarter worth about $192,000. Finally, KLCM Advisors Inc. raised its position in shares of Chevron by 34.0% during the fourth quarter. KLCM Advisors Inc. now owns 23,776 shares of the oil and gas company’s stock worth $3,546,000 after purchasing an additional 6,029 shares during the period. 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.