Chevron (NYSE:CVX) Shares Down 0.3% – Time to Sell?

Shares of Chevron Co. (NYSE:CVX) fell 0.3% during trading on Friday . The company traded as low as $157.94 and last traded at $158.39. 1,316,946 shares traded hands during trading, a decline of 82% from the average session volume of 7,204,568 shares. The stock had previously closed at $158.79.

Analysts Set New Price Targets

CVX has been the subject of a number of recent research reports. Wells Fargo & Company cut their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays dropped their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Tuesday, November 5th. Finally, Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

The firm has a market capitalization of $283.38 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11. The firm has a 50 day moving average price of $151.91 and a 200-day moving average price of $150.91. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business earned $3.45 EPS. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.34%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron during the 3rd quarter worth $29,000. Rational Advisors LLC acquired a new stake in Chevron in the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron in the 4th quarter valued at about $29,000. Finally, 10Elms LLP bought a new position in shares of Chevron during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.