Chevron (NYSE:CVX) Trading Up 0.1% – Here’s What Happened

Shares of Chevron Co. (NYSE:CVX) rose 0.1% on Thursday . The stock traded as high as $154.43 and last traded at $152.76. Approximately 2,064,938 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 7,552,914 shares. The stock had previously closed at $152.67.

Analyst Upgrades and Downgrades

Several brokerages have commented on CVX. Truist Financial dropped their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Piper Sandler dropped their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Performance

The stock has a 50-day moving average price of $155.03 and a 200 day moving average price of $151.98. The company has a market cap of $276.59 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period last year, the business posted $3.45 earnings per share. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the company. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron during the third quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter valued at $29,000. 10Elms LLP bought a new stake in shares of Chevron in the fourth quarter valued at $29,000. Finally, Fairway Wealth LLC raised its stake in shares of Chevron by 75.9% in the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds 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.