Chevron (NYSE:CVX) Trading 0.4% Higher

Chevron Co. (NYSE:CVX)’s share price was up 0.4% on Monday . The stock traded as high as $148.08 and last traded at $147.95. Approximately 6,414,700 shares traded hands during trading, a decline of 17% from the average daily volume of 7,744,875 shares. The stock had previously closed at $147.42.

Analyst Ratings Changes

Several research analysts recently commented on the company. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” 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 cut their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Truist Financial dropped their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Finally, Scotiabank reduced 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 note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Performance

The firm has a market cap of $272.67 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.50 and a beta of 1.10. The stock’s fifty day moving average is $152.27 and its two-hundred day moving average is $155.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last announced its quarterly 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). The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.08 EPS. On average, analysts expect that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.41%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVX. Pacifica Partners Inc. grew its position in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 63 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after acquiring an additional 63 shares in the last quarter. Montz Harcus Wealth Management LLC increased its stake in shares of Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after acquiring an additional 63 shares during the period. Hubbell Strickland Wealth Management LLC raised its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares in the last quarter. Finally, Marks Group Wealth Management Inc lifted its position in Chevron by 3.1% in the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after purchasing an additional 65 shares during the period. 72.42% of the stock is 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.