Chevron (NYSE:CVX) Stock Price Down 0.2% – Here’s Why

Chevron Co. (NYSE:CVX)’s share price traded down 0.2% during trading on Thursday . The company traded as low as $166.17 and last traded at $167.63. 1,438,227 shares changed hands during trading, a decline of 82% from the average session volume of 7,986,101 shares. The stock had previously closed at $167.97.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $175.00 price objective on shares of Chevron in a research report on Monday, February 3rd. Truist Financial cut their price target on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $292.37 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 1.46 and a beta of 1.08. The firm’s fifty day moving average is $157.10 and its 200 day moving average is $153.38.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fire Capital Management LLC acquired a new stake in shares of Chevron in the 4th quarter valued at about $598,000. Mascagni Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter valued at about $940,000. DSG Capital Advisors LLC bought a new stake in shares of Chevron during the fourth quarter worth approximately $2,743,000. Chancellor Financial Group WB LP bought a new stake in Chevron in the 4th quarter valued at $632,000. Finally, Triton Wealth Management PLLC boosted its holdings in Chevron by 24.8% in the 4th quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company’s stock valued at $461,000 after purchasing an additional 578 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

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.