Short Interest in Chevron Co. (NYSE:CVX) Expands By 9.6%

Chevron Co. (NYSE:CVX) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 57,130,000 shares, a growth of 9.6% from the August 31st total of 52,130,000 shares. Based on an average daily volume of 7,340,000 shares, the days-to-cover ratio is presently 7.8 days. Approximately 3.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

CVX has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Barclays reduced their price objective on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday. Royal Bank of Canada lowered their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, UBS Group cut their price objective on shares of Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.00.

Institutional Investors Weigh In On Chevron

Several large investors have recently made changes to their positions in the company. Gilbert & Cook Inc. increased its position in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after buying an additional 369 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Chevron by 1.0% in the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after acquiring an additional 82 shares in the last quarter. Gryphon Financial Partners LLC lifted its holdings in Chevron by 55.0% in the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after purchasing an additional 4,047 shares during the last quarter. J. W. Coons Advisors LLC boosted its position in Chevron by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after purchasing an additional 100 shares during the period. Finally, Shepherd Financial Partners LLC grew its holdings in Chevron by 3.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 2,850 shares of the oil and gas company’s stock valued at $425,000 after purchasing an additional 107 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.7 %

Shares of CVX stock traded up $2.46 during trading on Tuesday, hitting $149.73. 9,482,900 shares of the company were exchanged, compared to its average volume of 8,060,685. The business’s 50-day simple moving average is $146.34 and its 200 day simple moving average is $154.21. Chevron has a twelve month low of $135.37 and a twelve month high of $170.17. The firm has a market capitalization of $273.84 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 2.64 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Chevron will post 11.02 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

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.