Chevron (NYSE:CVX) Trading 0% Higher

Chevron Co. (NYSE:CVX) was up 0% on Friday . The stock traded as high as $144.59 and last traded at $144.54. Approximately 2,222,659 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 7,871,895 shares. The stock had previously closed at $144.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday. Wells Fargo & Company raised their price objective on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Piper Sandler raised their price target on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $267.45 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a 50 day moving average of $155.22 and a 200-day moving average of $155.94.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $3.08 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 12.45 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s payout ratio is 59.98%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of CVX. Kapstone Financial Advisors LLC increased its stake in Chevron by 5.3% during the 4th quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. Eagle Capital Management LLC increased its position in shares of Chevron by 0.5% during the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the last quarter. Lane & Associates LLC purchased a new stake in shares of Chevron during the first quarter valued at approximately $345,000. Guyasuta Investment Advisors Inc. increased its position in shares of Chevron by 1.7% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Seven Mile Advisory boosted its holdings in shares of Chevron by 9.8% in the 4th quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock worth $413,000 after buying an additional 247 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

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.