Chevron (NYSE:CVX) Shares Down 0.9%

Chevron Co. (NYSE:CVX)’s share price traded down 0.9% during trading on Tuesday . The company traded as low as $154.95 and last traded at $155.10. 1,283,998 shares were traded during trading, a decline of 85% from the average session volume of 8,715,473 shares. The stock had previously closed at $156.47.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Mizuho lifted their price objective on Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research report on Monday, February 5th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 target price on the stock. in a research report on Tuesday, January 16th. Finally, Piper Sandler lowered their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating for the company in a report on Thursday, March 14th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Up 0.7 %

The stock has a market cap of $290.40 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.38 and a beta of 1.12. The business has a fifty day moving average of $151.34 and a 200-day moving average of $152.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last issued its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.26. The business had revenue of $47.18 billion during the quarter, compared to analysts’ expectations of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.09 EPS. Equities research analysts anticipate that Chevron Co. will post 13.04 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a dividend of $1.63 per share. This is an increase from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s dividend payout ratio (DPR) is 57.39%.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently modified their holdings of the business. Addison Capital Co lifted its stake in shares of Chevron by 1.9% during the 2nd quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock worth $525,000 after purchasing an additional 63 shares during the last quarter. Sweet Financial Partners LLC lifted its position in shares of Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares during the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares in the last quarter. NCM Capital Management LLC grew its position in shares of Chevron by 1.2% in the 1st quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock worth $909,000 after buying an additional 65 shares during the last quarter. Finally, Alera Investment Advisors LLC raised its stake in shares of Chevron by 1.0% during the 3rd quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock worth $1,094,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.