Chevron (NYSE:CVX) Stock Price Down 0.3%

Shares of Chevron Co. (NYSE:CVX) traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $160.60 and last traded at $161.48. 920,258 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 8,397,266 shares. The stock had previously closed at $161.92.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Raymond James raised their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Monday, January 8th. Royal Bank of Canada lifted their price target on Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Wells Fargo & Company lifted their price target on Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Finally, Truist Financial lowered their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01. The company has a market cap of $304.02 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 2.40 and a beta of 1.12. The firm’s 50 day simple moving average is $156.14 and its 200-day simple moving average is $151.75.

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

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 3.98%. Chevron’s dividend payout ratio is 57.39%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were 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 owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Windsor Advisory Group LLC raised its holdings in Chevron by 24.0% during the third quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after purchasing an additional 720 shares in the last quarter. Renaissance Investment Group LLC increased its holdings in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc increased its holdings in Chevron by 2.1% in the third quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock valued at $3,597,000 after buying an additional 434 shares in the last quarter. Camelot Portfolios LLC purchased a new position in Chevron in the fourth quarter valued at about $254,000. Finally, Strategic Financial Concepts LLC increased its holdings in Chevron by 9.0% in the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after buying an additional 476 shares in the last quarter. 72.42% of the stock is 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.