Chevron (NYSE:CVX) Trading Up 0.9%

Chevron Co. (NYSE:CVX) shares rose 0.9% on Thursday . The stock traded as high as $164.10 and last traded at $163.95. Approximately 845,375 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 8,360,440 shares. The stock had previously closed at $162.54.

Analysts Set New Price Targets

Several brokerages recently issued reports on CVX. TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company boosted their target price on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. HSBC raised their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays started coverage on Chevron in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 price objective on the stock. Finally, Piper Sandler raised their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a market cap of $305.66 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The stock has a 50-day moving average price of $157.82 and a 200 day moving average price of $151.53.

Chevron (NYSE:CVX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same period last year, the company posted $3.55 EPS. The business’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.94%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Insider Activity

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at approximately $416,761.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the transaction, the director now directly owns 2,549 shares in the company, valued at approximately $416,761.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The disclosure for this sale can be found here. Insiders have sold 13,247 shares of company stock worth $2,154,164 over the last ninety days. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Capital Advisory LLC raised its stake in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Chevron during the third quarter worth approximately $26,000. Bare Financial Services Inc bought a new position in Chevron during the 4th quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 80 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $30,000. 72.42% of the stock is owned by institutional investors.

About Chevron

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.