Chevron (NYSE:CVX) Stock Price Down 0.2% – Time to Sell?

Chevron Co. (NYSE:CVX)’s stock price dropped 0.2% during trading on Friday . The company traded as low as $165.86 and last traded at $166.36. Approximately 991,829 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,331,335 shares. The stock had previously closed at $166.65.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Truist Financial lowered their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Down 0.3 %

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 company has a market capitalization of $292.39 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.46 and a beta of 1.08. The firm’s 50-day moving average price is $157.01 and its 200 day moving average price is $153.21.

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

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $1.71 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated 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 directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of CVX. Fire Capital Management LLC bought a new stake in Chevron during the fourth quarter worth $598,000. Mascagni Wealth Management Inc. bought a new stake in shares of Chevron during the 4th quarter worth $940,000. DSG Capital Advisors LLC purchased a new position in shares of Chevron in the 4th quarter worth about $2,743,000. Chancellor Financial Group WB LP bought a new position in Chevron during the fourth quarter valued at about $632,000. Finally, Triton Wealth Management PLLC increased its holdings in Chevron by 24.8% during the fourth quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company’s stock worth $461,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.