Chevron (NYSE:CVX) Trading Down 2.3% on Analyst Downgrade

Shares of Chevron Co. (NYSE:CVX) traded down 2.3% during trading on Monday after UBS Group lowered their price target on the stock from $194.00 to $185.00. UBS Group currently has a buy rating on the stock. Chevron traded as low as $137.29 and last traded at $139.99. 5,375,634 shares changed hands during trading, a decline of 30% from the average session volume of 7,689,106 shares. The stock had previously closed at $143.28.

Several other research analysts have also commented on the stock. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Barclays lowered their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a report on Monday, February 3rd. Finally, Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.53.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. First County Bank CT grew its stake in shares of Chevron by 1.2% in the 1st quarter. First County Bank CT now owns 7,253 shares of the oil and gas company’s stock valued at $1,213,000 after purchasing an additional 84 shares during the period. GoalVest Advisory LLC lifted its holdings in Chevron by 6.6% during the 1st quarter. GoalVest Advisory LLC now owns 7,822 shares of the oil and gas company’s stock valued at $1,309,000 after purchasing an additional 482 shares during the last quarter. GAMMA Investing LLC grew its holdings in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after acquiring an additional 5,382,847 shares during the last quarter. Howard Financial Services LTD. grew its position in shares of Chevron by 11.6% during the 1st quarter. Howard Financial Services LTD. now owns 4,924 shares of the oil and gas company’s stock worth $824,000 after buying an additional 512 shares during the period. Finally, Nexus Investment Management ULC raised its stake in shares of Chevron by 14.8% during the first quarter. Nexus Investment Management ULC now owns 7,576 shares of the oil and gas company’s stock worth $1,267,000 after buying an additional 976 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

The company’s fifty day moving average is $157.04 and its two-hundred day moving average is $154.21. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $246.15 billion, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last announced 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 period last year, the firm earned $3.45 EPS. Equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.89%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is currently 70.37%.

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.