Chevron (NYSE:CVX) Trading Up 1.4% – Here’s What Happened

Chevron Co. (NYSE:CVX) shares traded up 1.4% during mid-day trading on Friday . The stock traded as high as $155.78 and last traded at $155.78. 1,253,115 shares were traded during mid-day trading, a decline of 83% from the average session volume of 7,564,044 shares. The stock had previously closed at $153.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays decreased their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a 50 day moving average price of $155.03 and a 200 day moving average price of $152.02. The firm has a market cap of $276.59 billion, a PE ratio of 16.16, a PEG ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 in the previous year, the firm posted $3.45 EPS. Sell-side analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.35%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter worth $25,000. IMG Wealth Management Inc. purchased a new position in Chevron in the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the third quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the fourth quarter worth $29,000. Finally, 10Elms LLP acquired a new stake in Chevron in the fourth quarter valued at $29,000. 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.