Chevron (NYSE:CVX) Trading Down 0.8%

Shares of Chevron Co. (NYSE:CVX) were down 0.8% during mid-day trading on Wednesday . The company traded as low as $155.42 and last traded at $156.28. Approximately 5,541,895 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 7,275,755 shares. The stock had previously closed at $157.59.

Analysts Set New Price Targets

A number of research analysts have recently commented on CVX shares. Truist Financial lowered their price target on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Jefferies Financial Group raised 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. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Finally, Mizuho raised their price target on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Price Performance

The stock has a 50 day moving average of $155.26 and a two-hundred day moving average of $151.90. The stock has a market cap of $292.50 billion, a PE ratio of 13.86, a PEG ratio of 2.36 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. Chevron’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the business posted $4.09 EPS. Equities analysts anticipate that Chevron Co. will post 13.27 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were paid a $1.63 dividend. 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 4.14%. This is a boost from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Insider Buying and Selling

In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at approximately $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the business. Pacifica Partners Inc. boosted its position in Chevron by 1.8% during the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the period. Sweet Financial Partners LLC lifted its holdings in shares of 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 buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI lifted its holdings in shares of Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares during the last quarter. Ellenbecker Investment Group lifted its holdings in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the last quarter. Finally, Mayfair Advisory Group LLC lifted its holdings in shares of Chevron by 0.7% during the 1st quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.