Chevron (NYSE:CVX) Trading Down 0.1%

Chevron Co. (NYSE:CVX)’s share price was down 0.1% during trading on Wednesday . The stock traded as low as $161.45 and last traded at $162.74. Approximately 1,915,685 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 8,372,916 shares. The stock had previously closed at $162.85.

Analyst Ratings Changes

Several equities analysts have commented on CVX shares. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research report on Tuesday, February 6th. Raymond James upped their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. UBS Group upped their target price on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Truist Financial lowered their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Six 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 a consensus rating of “Moderate Buy” and a consensus target price of $184.75.

Chevron Stock Performance

The business has a 50 day simple moving average of $156.35 and a 200 day simple moving average of $151.84. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $306.95 billion, a PE ratio of 14.55, a PEG ratio of 2.41 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.26. The business had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company’s revenue was down 16.5% on a year-over-year basis. During the same period in the prior year, the company earned $4.09 earnings per share. Equities research analysts predict that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 16th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 3.95%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now directly owns 276 shares in the company, valued at $44,184.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in CVX. Norges Bank acquired a new stake in shares of Chevron in the fourth quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc boosted its stake in shares of Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Capital World Investors boosted its stake in shares of Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after acquiring an additional 4,700,289 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Chevron by 73,888.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after buying an additional 4,596,584 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock worth $4,776,720,000 after buying an additional 3,181,946 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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.