Chevron (NYSE:CVX) Trading Up 0%

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial cut their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research note on Monday. Barclays cut their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, TD Cowen boosted their target price on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Stock Performance

The firm’s 50-day simple moving average is $155.22 and its two-hundred day simple moving average is $155.94. 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 company has a market cap of $267.45 billion, a PE ratio of 13.37, a P/E/G ratio of 2.39 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The firm 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 was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 EPS. As a group, research analysts anticipate that Chevron Co. will post 12.45 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares in the company, valued at $76,429.71. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently modified their holdings of CVX. Norges Bank purchased a new position in Chevron in the 4th quarter valued at $2,902,007,000. Berkshire Hathaway Inc lifted its position in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Capital World Investors grew its holdings in Chevron by 43.5% in the 4th quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock valued at $2,314,070,000 after buying an additional 4,700,289 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 73,888.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock worth $686,554,000 after acquiring an additional 4,596,584 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after acquiring an additional 1,999,332 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.