Chevron (NYSE:CVX) Trading Down 1% – What’s Next?

Shares of Chevron Co. (NYSE:CVX) were down 1% during trading on Tuesday . The company traded as low as $156.07 and last traded at $156.26. Approximately 1,723,856 shares changed hands during trading, a decline of 76% from the average daily volume of 7,155,013 shares. The stock had previously closed at $157.89.

Analysts Set New Price Targets

A number of brokerages have issued reports on CVX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Truist Financial dropped their price target on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their price objective on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Stock Down 0.6 %

The firm has a market cap of $281.96 billion, a PE ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $152.14 and its 200-day moving average is $151.20.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm posted $3.45 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently made changes to their positions in the company. Pettinga Financial Advisors LLC grew its stake in shares of Chevron by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,972 shares of the oil and gas company’s stock valued at $438,000 after buying an additional 272 shares in the last quarter. Modera Wealth Management LLC boosted its holdings in Chevron by 5.5% in the 3rd quarter. Modera Wealth Management LLC now owns 30,629 shares of the oil and gas company’s stock worth $4,511,000 after acquiring an additional 1,600 shares during the period. Mattern Capital Management LLC grew its position in Chevron by 14.4% in the third quarter. Mattern Capital Management LLC now owns 5,534 shares of the oil and gas company’s stock valued at $815,000 after acquiring an additional 697 shares in the last quarter. Smith Salley Wealth Management raised its stake in shares of Chevron by 3.1% during the third quarter. Smith Salley Wealth Management now owns 123,190 shares of the oil and gas company’s stock valued at $18,142,000 after purchasing an additional 3,759 shares during the period. Finally, Kavar Capital Partners Group LLC lifted its position in shares of Chevron by 5.3% during the third quarter. Kavar Capital Partners Group LLC now owns 20,699 shares of the oil and gas company’s stock worth $3,048,000 after purchasing an additional 1,037 shares in the last quarter. 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.