Chevron (NYSE:CVX) Stock Price Down 0.4% – Here’s Why

Chevron Co. (NYSE:CVX) shares dropped 0.4% during mid-day trading on Monday . The company traded as low as $150.18 and last traded at $150.88. Approximately 694,139 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 7,729,555 shares. The stock had previously closed at $151.42.

Analysts Set New Price Targets

A number of analysts have commented on CVX shares. Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Truist Financial cut their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research note on Monday, September 30th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein cut 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. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $176.81.

Chevron Price Performance

The company has a market capitalization of $279.32 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 2.72 and a beta of 1.09. 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’s 50-day moving average is $145.46 and its 200-day moving average is $153.93.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the previous year, the business earned $3.08 earnings per share. Chevron’s revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Chevron Co. will post 11.09 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Institutional Trading of Chevron

Several large investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. Cooksen Wealth LLC bought a new stake in shares of Chevron during the fourth quarter valued at approximately $40,000. Finally, Vima LLC purchased a new position in Chevron in the 4th quarter worth approximately $44,000. 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.