Chevron (NYSE:CVX) Shares Down 0.8% – Time to Sell?

Chevron Co. (NYSE:CVX)’s share price fell 0.8% on Friday . The stock traded as low as $140.70 and last traded at $141.12. 2,006,370 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 7,992,762 shares. The stock had previously closed at $142.26.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. TD Cowen reduced their target price on Chevron from $155.00 to $150.00 and set a “hold” rating for the company in a report on Monday, May 5th. Scotiabank downgraded Chevron from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $160.00 to $143.00 in a report on Friday, April 11th. BNP Paribas downgraded Chevron to a “cautious” rating in a report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Finally, HSBC downgraded Chevron from a “buy” rating to a “hold” rating and reduced their price objective for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $160.24.

Chevron Trading Down 0.2%

The firm has a market capitalization of $248.06 billion, a PE ratio of 14.61, a P/E/G ratio of 1.46 and a beta of 0.83. The business has a 50 day moving average price of $146.65 and a 200-day moving average price of $151.79. 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 issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.93 EPS. Analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is 78.17%.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently modified their holdings of the company. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter worth approximately $25,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter worth approximately $29,000. Finally, 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter worth approximately $29,000. Institutional investors and hedge funds 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.