Chevron (NYSE:CVX) Stock Price Down 0.6% – What’s Next?

Chevron Co. (NYSE:CVX)’s stock price traded down 0.6% during mid-day trading on Monday . The company traded as low as $141.54 and last traded at $142.02. 1,754,737 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 7,827,954 shares. The stock had previously closed at $142.85.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Mizuho reduced their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and fourteen have given 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 $175.19.

Chevron Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market cap of $258.49 billion, a P/E ratio of 15.81, a P/E/G ratio of 2.93 and a beta of 1.10. The stock has a 50-day moving average price of $154.57 and a 200-day moving average price of $151.72.

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.53%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Hedge funds have recently made changes to their positions in the business. Lantz Financial LLC boosted its holdings in Chevron by 2.7% during the 2nd quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after acquiring an additional 623 shares during the period. Burney Co. grew its holdings in shares of Chevron by 79.1% in the second quarter. Burney Co. now owns 31,301 shares of the oil and gas company’s stock worth $4,896,000 after purchasing an additional 13,820 shares during the last quarter. Rowlandmiller & PARTNERS.ADV grew its holdings in shares of Chevron by 0.4% in the second quarter. Rowlandmiller & PARTNERS.ADV now owns 46,704 shares of the oil and gas company’s stock worth $7,305,000 after purchasing an additional 175 shares during the last quarter. FAS Wealth Partners Inc. increased its stake in shares of Chevron by 3.8% in the second quarter. FAS Wealth Partners Inc. now owns 35,132 shares of the oil and gas company’s stock worth $5,495,000 after buying an additional 1,283 shares during the period. Finally, Blue Chip Partners LLC raised its holdings in Chevron by 26.5% during the 2nd quarter. Blue Chip Partners LLC now owns 1,653 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 346 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

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.