Chevron (NYSE:CVX) Shares Up 0.5% – What’s Next?

Chevron Co. (NYSE:CVX) shares rose 0.5% during mid-day trading on Wednesday . The stock traded as high as $161.15 and last traded at $160.38. Approximately 803,463 shares changed hands during trading, a decline of 89% from the average daily volume of 7,626,803 shares. The stock had previously closed at $159.60.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Finally, Bank of America began coverage on Chevron in a report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target on the stock. Four 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Stock Up 0.2 %

The firm has a market cap of $290.37 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average is $151.14 and its 200 day moving average is $152.69.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period last year, the firm earned $3.05 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently modified their holdings of CVX. Montz Harcus Wealth Management LLC lifted its stake in Chevron by 2.2% during the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares during the period. Tacita Capital Inc lifted its position in shares of Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. boosted its stake in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after purchasing an additional 65 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its position in Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after purchasing an additional 67 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other 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.