Chevron (NYSE:CVX) Stock Price Down 0.3%

Chevron Co. (NYSE:CVX)’s stock price dropped 0.3% during trading on Tuesday . The stock traded as low as $160.60 and last traded at $161.48. Approximately 920,258 shares were traded during trading, a decline of 89% from the average daily volume of 8,397,266 shares. The stock had previously closed at $161.92.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $170.00 to $195.00 in a research note on Thursday, April 11th. Piper Sandler upped their price objective on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho increased their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Finally, Royal Bank of Canada increased their price target on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Trading Up 0.4 %

The stock’s fifty day moving average price is $155.63 and its 200 day moving average price is $151.66. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market cap of $301.88 billion, a PE ratio of 14.21, a PEG ratio of 2.36 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the company posted $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Co. will post 13.58 EPS for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a yield of 4.01%. 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 related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Picton Mahoney Asset Management bought a new stake in shares of Chevron during the 3rd quarter valued at $26,000. Bare Financial Services Inc bought a new stake in shares of Chevron during the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 80 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $30,000. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Chevron during the 4th quarter valued at $33,000. Hedge funds and other institutional investors 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.