Chevron (NYSE:CVX) Trading Down 1.2% – Here’s Why

Chevron Co. (NYSE:CVX) shares were down 1.2% on Tuesday . The stock traded as low as $147.32 and last traded at $147.56. Approximately 2,502,806 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 7,668,317 shares. The stock had previously closed at $149.36.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CVX shares. Truist Financial boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Barclays boosted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. UBS Group boosted their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Bank of America started coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.13.

Chevron Trading Down 1.2 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $265.25 billion, a P/E ratio of 16.22, a PEG ratio of 2.93 and a beta of 1.10. The firm’s 50-day simple moving average is $155.31 and its 200 day simple moving average is $152.29.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the firm earned $3.05 EPS. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in the stock. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the third quarter valued at approximately $31,000. Finally, Anfield Capital Management LLC lifted its stake in Chevron by 118.0% during the second 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 last quarter. 72.42% of the stock is 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.