Chevron (NYSE:CVX) Shares Down 0.3%

Chevron Co. (NYSE:CVX)’s share price was down 0.3% during trading on Monday . The company traded as low as $158.43 and last traded at $158.45. Approximately 1,748,220 shares changed hands during trading, a decline of 80% from the average daily volume of 8,564,295 shares. The stock had previously closed at $158.96.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. Royal Bank of Canada upped their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. TD Cowen cut Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research report on Monday, January 8th. Raymond James increased their target price on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $183.55.

Chevron Price Performance

The company has a current ratio of 1.27, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The stock has a market cap of $290.25 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 2.37 and a beta of 1.12. The stock has a 50-day moving average price of $155.11 and a two-hundred day moving average price of $151.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter in the previous year, the company posted $4.09 earnings per share. The company’s revenue was down 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Chevron Co. will post 13.28 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were issued a $1.63 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Chevron’s previous quarterly dividend of $1.51. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. Chevron’s payout ratio is presently 57.39%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $44,184.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.18% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in CVX. Vanguard Group Inc. lifted its stake in Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock worth $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc boosted its position in shares of Chevron by 14.4% during the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Morgan Stanley increased its position in Chevron by 7.0% during the third quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock worth $5,761,223,000 after purchasing an additional 2,244,995 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Chevron by 8.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock worth $3,886,821,000 after purchasing an additional 1,999,332 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its stake in shares of Chevron by 104,997.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,490,824 shares of the oil and gas company’s stock valued at $4,395,858,000 after buying an additional 24,467,521 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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.