Chevron (NYSE:CVX) Shares Up 0.9%

Chevron Co. (NYSE:CVX) rose 0.9% during trading on Thursday . The stock traded as high as $164.10 and last traded at $163.95. Approximately 845,375 shares changed hands during trading, a decline of 90% from the average daily volume of 8,360,440 shares. The stock had previously closed at $162.54.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CVX shares. Raymond James boosted their price objective on shares of Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Royal Bank of Canada raised their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. HSBC upped their target price on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Piper Sandler increased their price objective on shares of Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $185.35.

Chevron Price Performance

The firm has a market cap of $305.66 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average price of $157.82 and a two-hundred day moving average price of $151.53.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating the consensus estimate of $2.84 by $0.09. The business had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.55 EPS. As a group, equities analysts expect that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, May 16th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the sale, the director now directly owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the transaction, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Enrique Hernandez, Jr. sold 5,098 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the transaction, the director now owns 2,549 shares of the company’s stock, valued at $416,761.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,247 shares of company stock worth $2,154,164. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Windsor Advisory Group LLC grew its holdings in Chevron by 24.0% during the 3rd quarter. Windsor Advisory Group LLC now owns 3,720 shares of the oil and gas company’s stock worth $627,000 after acquiring an additional 720 shares in the last quarter. Renaissance Investment Group LLC raised its stake in Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after buying an additional 697 shares in the last quarter. Altrius Capital Management Inc lifted its holdings in Chevron by 2.1% during the 3rd quarter. Altrius Capital Management Inc now owns 21,333 shares of the oil and gas company’s stock worth $3,597,000 after buying an additional 434 shares during the last quarter. Camelot Portfolios LLC acquired a new position in shares of Chevron during the 4th quarter worth about $254,000. Finally, Kapstone Financial Advisors LLC increased its holdings in shares of Chevron by 5.3% in the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during 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.