Chevron (NYSE:CVX) Trading Up 0.4% – What’s Next?

Chevron Co. (NYSE:CVX) shares traded up 0.4% during mid-day trading on Thursday . The stock traded as high as $151.11 and last traded at $151.36. 1,422,579 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 7,300,479 shares. The stock had previously closed at $150.81.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler decreased their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Truist Financial cut their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Finally, UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Up 2.3 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $275.51 billion, a P/E ratio of 16.10, a PEG ratio of 1.46 and a beta of 1.08. The company’s 50 day moving average price is $154.08 and its two-hundred day moving average price is $151.69.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the company earned $3.45 earnings per share. Equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.37%. Chevron’s payout ratio is 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several large investors have recently added to or reduced their stakes in CVX. Tacita Capital Inc lifted its holdings in shares of Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after buying an additional 65 shares in the last quarter. Wallace Capital Management Inc. grew its position in shares of Chevron by 0.8% during the third quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. TFB Advisors LLC increased its holdings in shares of Chevron by 2.4% in the fourth quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock worth $411,000 after purchasing an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. lifted its position in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after buying an additional 66 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock valued at $2,207,000 after buying an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.