Chevron (NYSE:CVX) Shares Up 1% – Here’s Why

Chevron Corporation (NYSE:CVX) was up 1% during mid-day trading on Monday . The stock traded as high as $182.82 and last traded at $182.70. Approximately 11,988,049 shares were traded during trading, a decline of 9% from the average daily volume of 13,122,286 shares. The stock had previously closed at $180.86.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bank of America decreased their price target on shares of Chevron from $183.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. TD Cowen raised their target price on Chevron from $160.00 to $168.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. UBS Group reissued a “buy” rating and set a $212.00 price target on shares of Chevron in a report on Monday, February 2nd. Finally, Argus set a $203.00 price objective on Chevron in a research note on Tuesday, February 3rd. Twelve investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Hold” and an average price target of $175.00.

Chevron Stock Up 1.0%

The firm has a market capitalization of $367.87 billion, a PE ratio of 27.43, a P/E/G ratio of 12.11 and a beta of 0.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The company has a 50-day moving average price of $159.30 and a 200 day moving average price of $156.47.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a return on equity of 8.23% and a net margin of 6.51%.The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. During the same quarter last year, the business posted $2.06 earnings per share. The firm’s revenue was down 10.2% on a year-over-year basis. Analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s dividend payout ratio (DPR) is 102.70%.

Insider Transactions at Chevron

In related news, CEO Michael K. Wirth sold 320,700 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer owned 14,450 shares in the company, valued at approximately $2,355,205.50. This represents a 95.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Mark A. Nelson sold 45,800 shares of Chevron stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $174.17, for a total transaction of $7,976,986.00. Following the completion of the sale, the insider owned 7,161 shares in the company, valued at approximately $1,247,231.37. This represents a 86.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 793,158 shares of company stock valued at $127,919,578. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently made changes to their positions in the company. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% during the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 439 shares in the last quarter. Strategic Wealth Advisors LLC purchased a new position in shares of Chevron in the fourth quarter valued at $33,000. Decker Retirement Planning Inc. bought a new stake in Chevron in the third quarter worth $34,000. Vermillion & White Wealth Management Group LLC raised its stake in Chevron by 86.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 118 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in Chevron during the third quarter valued at $41,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.