Chevron (NYSE:CVX) Reaches New 12-Month Low at $141.19

Shares of Chevron Co. (NYSE:CVX) hit a new 52-week low on Thursday . The stock traded as low as $141.19 and last traded at $141.32, with a volume of 4163826 shares changing hands. The stock had previously closed at $145.56.

Analyst Ratings Changes

CVX has been the topic of several recent research reports. UBS Group boosted their price target on shares of Chevron from $209.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. StockNews.com initiated coverage on shares of Chevron in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $190.00 to $200.00 in a research report on Monday, October 30th. Truist Financial lowered their price target on shares of Chevron from $175.00 to $169.00 and set a “hold” rating on the stock in a research report on Tuesday, October 24th. Finally, HSBC upped their target price on shares of Chevron from $180.00 to $184.00 in a research report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $187.89.

Chevron Price Performance

The stock’s 50 day moving average is $158.68 and its two-hundred day moving average is $158.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 0.97. The stock has a market capitalization of $272.69 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 0.73 and a beta of 1.16.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 27th. The oil and gas company reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.65). Chevron had a return on equity of 16.15% and a net margin of 12.11%. The firm had revenue of $54.08 billion for the quarter, compared to analysts’ expectations of $51.41 billion. During the same quarter in the previous year, the company posted $5.56 earnings per share. The firm’s quarterly revenue was down 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that Chevron Co. will post 13.59 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, November 16th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 4.18%. Chevron’s payout ratio is 44.84%.

Institutional Trading of Chevron

A number of large investors have recently made changes to their positions in CVX. Berkeley Capital Partners LLC increased its stake in Chevron by 13.1% in the second quarter. Berkeley Capital Partners LLC now owns 14,333 shares of the oil and gas company’s stock valued at $2,255,000 after purchasing an additional 1,661 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in Chevron by 13.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 79,961 shares of the oil and gas company’s stock valued at $12,582,000 after purchasing an additional 9,477 shares during the last quarter. Kooman & Associates increased its stake in Chevron by 11.2% in the second quarter. Kooman & Associates now owns 1,568 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 158 shares during the last quarter. Reuter James Wealth Management LLC boosted its holdings in shares of Chevron by 30.6% in the second quarter. Reuter James Wealth Management LLC now owns 6,659 shares of the oil and gas company’s stock valued at $1,048,000 after acquiring an additional 1,561 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in shares of Chevron by 0.9% in the second quarter. Great Lakes Retirement Inc. now owns 7,789 shares of the oil and gas company’s stock valued at $1,226,000 after acquiring an additional 73 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.