Chevron (NYSE:CVX) Shares Down 0.4%

Chevron Co. (NYSE:CVX) shares were down 0.4% on Wednesday . The stock traded as low as $143.73 and last traded at $144.02. Approximately 2,089,628 shares changed hands during trading, a decline of 73% from the average daily volume of 7,711,135 shares. The stock had previously closed at $144.66.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Royal Bank of Canada cut their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Truist Financial reduced their price objective on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research note on Monday, August 5th. Wolfe Research started coverage on Chevron in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $183.82.

Chevron Stock Down 0.8 %

The company has a market cap of $257.79 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 2.50 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a 50-day moving average price of $151.18 and a 200 day moving average price of $155.37.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts predict that Chevron Co. will post 11.86 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is 59.98%.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently made changes to their positions in CVX. American Capital Advisory LLC lifted its position in shares of Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC acquired a new position in Chevron in the fourth quarter valued at about $30,000. Anfield Capital Management LLC raised its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, Cooksen Wealth LLC acquired a new stake in Chevron during the fourth quarter worth about $40,000. 72.42% of the stock is currently 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.