Chevron (NYSE:CVX) Shares Down 0.8%

Chevron Co. (NYSE:CVX) was down 0.8% during mid-day trading on Wednesday . The company traded as low as $155.42 and last traded at $156.28. Approximately 5,541,895 shares traded hands during trading, a decline of 24% from the average daily volume of 7,275,755 shares. The stock had previously closed at $157.59.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CVX shares. UBS Group lifted their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. Piper Sandler dropped their price target on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research report on Thursday, March 14th. Wells Fargo & Company raised their price target on shares of Chevron from $185.00 to $198.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research report on Monday, January 8th. Finally, Mizuho raised their price target on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $183.55.

Chevron Trading Down 0.8 %

The firm’s 50-day simple moving average is $155.11 and its 200 day simple moving average is $151.83. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $290.25 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 2.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. During the same quarter in the previous year, the firm posted $4.09 earnings per share. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. As a group, analysts expect that Chevron Co. will post 13.28 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently bought and sold shares of the company. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% in the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares in the last quarter. NCM Capital Management LLC grew its holdings in shares of Chevron by 1.2% in the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after purchasing an additional 65 shares in the last quarter. Sweet Financial Partners LLC grew its holdings in shares of Chevron by 0.7% in the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after purchasing an additional 65 shares in the last quarter. Strategic Investment Advisors MI grew its holdings in shares of Chevron by 3.8% in the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 65 shares in the last quarter. Finally, Ellenbecker Investment Group grew its holdings in shares of Chevron by 1.5% in the first quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after purchasing an additional 65 shares in 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.