Chevron (NYSE:CVX) Shares Down 0.3% – What’s Next?

Shares of Chevron Co. (NYSE:CVX) were down 0.3% on Friday . The stock traded as low as $163.70 and last traded at $164.22. Approximately 4,194,409 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 7,271,554 shares. The stock had previously closed at $164.77.

Analyst Ratings Changes

Several research analysts recently weighed in on CVX shares. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Truist Financial dropped their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

The stock’s 50-day moving average is $156.07 and its 200-day moving average is $152.40. The stock has a market cap of $288.26 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates 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 period in the previous year, the firm posted $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’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 value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently made changes to their positions in the business. Life Planning Partners Inc purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron during the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter valued at approximately $29,000. Finally, 10Elms LLP purchased a new position in shares of Chevron during the 4th quarter valued at approximately $29,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.