Chevron (NYSE:CVX) Stock Price Down 0.8% – Here’s Why

Chevron Co. (NYSE:CVX)’s stock price fell 0.8% during mid-day trading on Wednesday . The stock traded as low as $166.58 and last traded at $167.15. 1,216,394 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 7,602,734 shares. The stock had previously closed at $168.51.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group lowered 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. Finally, Wells Fargo & Company reduced their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

The company has a market cap of $293.51 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business’s 50 day moving average price is $157.43 and its 200-day moving average price is $154.00. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS 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 quarter last year, the business posted $3.45 earnings per share. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s dividend payout ratio is 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Trust Co of the South raised its position in shares of Chevron by 25.7% during the 1st quarter. Trust Co of the South now owns 2,266 shares of the oil and gas company’s stock valued at $379,000 after acquiring an additional 464 shares in the last quarter. Modus Advisors LLC lifted its position in shares of Chevron by 2.0% in the 1st quarter. Modus Advisors LLC now owns 19,432 shares of the oil and gas company’s stock worth $3,251,000 after buying an additional 389 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Chevron by 3.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 316,338 shares of the oil and gas company’s stock valued at $52,920,000 after buying an additional 9,408 shares during the period. Fire Capital Management LLC bought a new stake in shares of Chevron during the 4th quarter valued at about $598,000. Finally, Mascagni Wealth Management Inc. acquired a new stake in Chevron during the fourth quarter worth about $940,000. 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.