Chevron (NYSE:CVX) Trading Down 0.2% – Here’s Why

Chevron Co. (NYSE:CVX)’s share price dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $150.03 and last traded at $150.17. Approximately 910,533 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 7,633,162 shares. The stock had previously closed at $150.48.

Analyst Ratings Changes

CVX has been the topic of several analyst reports. Truist Financial lowered their price target on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, September 30th. Barclays lowered their price target on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price on the stock. Finally, UBS Group upped their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Down 0.4 %

The business’s fifty day simple moving average is $146.44 and its 200 day simple moving average is $153.45. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of $274.25 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 3.30 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the company earned $3.08 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 10.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s payout ratio is presently 64.55%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Anfield Capital Management LLC lifted its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory acquired a new position in Chevron during the 3rd quarter valued at about $47,000. Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter valued at about $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $55,000. 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.