Chevron (NYSE:CVX) Trading Down 2% – What’s Next?

Chevron Co. (NYSE:CVX)’s stock price fell 2% during mid-day trading on Friday . The stock traded as low as $132.29 and last traded at $132.28. 4,062,279 shares traded hands during trading, a decline of 48% from the average session volume of 7,840,367 shares. The stock had previously closed at $134.98.

Analysts Set New Price Targets

CVX has been the topic of a number of recent research reports. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Barclays lowered their price target 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. Wells Fargo & Company cut their target price 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. Scotiabank cut Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $160.00 to $143.00 in a report on Friday. Finally, Truist Financial reduced their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Chevron has an average rating of “Moderate Buy” and an average price target of $172.20.

Chevron Trading Up 0.4 %

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 50-day simple moving average of $155.34 and a two-hundred day simple moving average of $153.81. The firm has a market capitalization of $238.54 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the previous year, the business earned $3.45 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.05%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

Hedge funds have recently bought and sold shares of the stock. Gleason Group Inc. raised its stake in Chevron by 1.1% in the 1st quarter. Gleason Group Inc. now owns 11,076 shares of the oil and gas company’s stock valued at $1,853,000 after purchasing an additional 116 shares during the last quarter. Godsey & Gibb Inc. lifted its stake in shares of Chevron by 0.6% in the first quarter. Godsey & Gibb Inc. now owns 126,659 shares of the oil and gas company’s stock worth $21,189,000 after buying an additional 756 shares in the last quarter. Holland Advisory Services Inc. acquired a new position in Chevron during the first quarter worth about $203,000. Princeton Global Asset Management LLC grew its stake in Chevron by 43.7% during the 1st quarter. Princeton Global Asset Management LLC now owns 1,602 shares of the oil and gas company’s stock valued at $268,000 after acquiring an additional 487 shares in the last quarter. Finally, Intergy Private Wealth LLC raised its holdings in Chevron by 19.6% in the 1st quarter. Intergy Private Wealth LLC now owns 2,117 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 347 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.