Chevron (NYSE:CVX) Shares Down 2.5% – What’s Next?

Shares of Chevron Corporation (NYSE:CVX) traded down 2.5% during mid-day trading on Monday . The stock traded as low as $188.67 and last traded at $189.8420. Approximately 7,363,184 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 11,201,454 shares. The stock had previously closed at $194.79.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CVX shares. Scotiabank increased their target price on Chevron from $168.00 to $187.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. Sanford C. Bernstein cut their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 8th. Wolfe Research raised shares of Chevron from a “peer perform” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, July 2nd. Finally, UBS Group restated a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.17.

Chevron Trading Down 2.5%

The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $378.09 billion, a P/E ratio of 32.90, a P/E/G ratio of 0.65 and a beta of 0.50. The firm’s 50-day moving average price is $182.12 and its 200 day moving average price is $183.97.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. During the same period in the previous year, the firm earned $2.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Corporation will post 15.6 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were given a dividend of $1.78 per share. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron’s dividend payout ratio is presently 123.40%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 380,000 shares of Chevron stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the sale, the director owned 278,045 shares of the company’s stock, valued at approximately $53,718,294. The trade was a 57.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently modified their holdings of the stock. Midwest Capital Advisors LLC purchased a new stake in Chevron in the first quarter worth $25,000. Main Street Group LTD purchased a new position in shares of Chevron during the 1st quarter valued at $28,000. Phillip James Consulting Co. bought a new position in shares of Chevron during the 4th quarter worth $26,000. Core Wealth Advisors LLC bought a new stake in Chevron in the 4th quarter valued at about $26,000. Finally, Karpus Management Inc. bought a new stake in Chevron in the 4th quarter valued at about $27,000. Institutional investors own 72.42% of the company’s stock.

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.