Chevron (NYSE:CVX) Stock Price Up 0.7%

Shares of Chevron Co. (NYSE:CVX) were up 0.7% during trading on Thursday . The company traded as high as $158.01 and last traded at $157.51. Approximately 1,661,363 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,665,146 shares. The stock had previously closed at $156.35.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Piper Sandler decreased their target price on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a research report on Thursday, March 14th. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Tuesday, February 6th. Mizuho upped their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a report on Monday, January 8th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $180.39.

Chevron Stock Performance

The firm has a fifty day simple moving average of $151.60 and a two-hundred day simple moving average of $152.67. The firm has a market cap of $292.97 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period last year, the company earned $4.09 earnings per share. On average, analysts expect that Chevron Co. will post 13.04 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.13%. Chevron’s dividend payout ratio is presently 57.39%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Addison Capital Co lifted its position in shares of Chevron by 1.9% during the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock worth $525,000 after buying an additional 63 shares during the period. NCM Capital Management LLC increased its holdings in shares of Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after buying an additional 65 shares in the last quarter. Sweet Financial Partners LLC increased its holdings in Chevron by 0.7% during the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI boosted its stake in Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares in the last quarter. Finally, Alera Investment Advisors LLC increased its stake in shares of Chevron by 1.0% in the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after buying an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.