Chevron (NYSE:CVX) Trading Down 0.2%

Shares of Chevron Co. (NYSE:CVX) dropped 0.2% during mid-day trading on Wednesday . The company traded as low as $161.54 and last traded at $162.41. Approximately 1,553,683 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,384,001 shares. The stock had previously closed at $162.67.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CVX shares. Mizuho upped their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective for the company. in a research note on Tuesday, February 6th. HSBC increased their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. TD Cowen increased their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Finally, UBS Group boosted their target price on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Stock Performance

The firm’s fifty day simple moving average is $157.82 and its 200 day simple moving average is $151.53. The company has a market capitalization of $306.40 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.55 EPS. On average, research analysts predict that Chevron Co. will post 13.53 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.93%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now directly owns 7,647 shares in the company, valued at approximately $1,231,167. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders sold a total of 13,247 shares of company stock valued at $2,154,164 in the last three months. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently modified their holdings of CVX. American Capital Advisory LLC grew its position in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of Chevron during the third quarter worth approximately $26,000. Bare Financial Services Inc purchased a new position in Chevron during the fourth quarter worth about $27,000. Valley Forge Investment Consultants Inc. ADV grew its holdings in Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the period. Finally, Frank Rimerman Advisors LLC purchased a new position in Chevron in the fourth quarter valued at about $30,000. 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.