Chevron (NYSE:CVX) Shares Down 0.3% – Here’s Why

Chevron Co. (NYSE:CVX)’s stock price traded down 0.3% on Friday . The company traded as low as $163.70 and last traded at $164.22. 4,194,409 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 7,271,554 shares. The stock had previously closed at $164.77.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Wells Fargo & Company lowered their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Raymond James decreased their target price on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market cap of $289.39 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The firm has a 50 day moving average price of $156.29 and a 200-day moving average price of $152.57.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently added to or reduced their stakes in CVX. United Bank raised its position in shares of Chevron by 8.4% during the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the period. Leelyn Smith LLC raised its position in shares of Chevron by 6.4% during the third quarter. Leelyn Smith LLC now owns 16,229 shares of the oil and gas company’s stock worth $2,390,000 after purchasing an additional 979 shares during the period. Waddell & Associates LLC raised its position in shares of Chevron by 4.9% during the third quarter. Waddell & Associates LLC now owns 9,407 shares of the oil and gas company’s stock worth $1,385,000 after purchasing an additional 441 shares during the period. Great Valley Advisor Group Inc. raised its position in shares of Chevron by 7.5% during the third quarter. Great Valley Advisor Group Inc. now owns 65,895 shares of the oil and gas company’s stock worth $9,705,000 after purchasing an additional 4,605 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Chevron by 3.7% during the third quarter. Cerity Partners LLC now owns 1,153,440 shares of the oil and gas company’s stock worth $169,867,000 after purchasing an additional 41,178 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.