Chevron (NYSE:CVX) Stock Price Down 1.2% – Should You Sell?

Chevron Co. (NYSE:CVX) was down 1.2% on Tuesday . The company traded as low as $147.32 and last traded at $147.56. Approximately 2,502,806 shares changed hands during trading, a decline of 67% from the average daily volume of 7,668,317 shares. The stock had previously closed at $149.36.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CVX. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Truist Financial upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Finally, UBS Group lifted their target price on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $175.19.

Chevron Stock Down 2.0 %

The company has a 50 day moving average of $155.19 and a 200-day moving average of $152.13. The company has a market capitalization of $253.66 billion, a P/E ratio of 15.51, a PEG ratio of 2.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted its 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. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.05 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.62%. Chevron’s dividend payout ratio is presently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently added to or reduced their stakes in CVX. Rational Advisors LLC purchased a new stake in Chevron during the 3rd quarter valued at about $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in shares of Chevron during the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new position in Chevron in the 3rd quarter valued at approximately $31,000. Finally, Anfield Capital Management LLC boosted its stake in Chevron by 118.0% during the 2nd 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 during the last quarter. 72.42% of the stock is 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.