Chevron (NYSE:CVX) Trading Down 0.5% – Should You Sell?

Chevron Co. (NYSE:CVX)’s stock price traded down 0.5% on Tuesday . The stock traded as low as $156.08 and last traded at $156.39. 1,568,206 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 7,439,311 shares. The stock had previously closed at $157.23.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays raised their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Raymond James raised their price objective on shares of Chevron from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Finally, Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Trading Down 0.6 %

The business’s 50-day moving average is $153.74 and its two-hundred day moving average is $151.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The stock has a market capitalization of $280.78 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $3.05 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders 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 4.17%. Chevron’s payout ratio is currently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rational Advisors LLC acquired a new position in shares of Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron in the 3rd quarter valued at about $29,000. Darwin Wealth Management LLC acquired a new position in Chevron in the 3rd quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new position in Chevron in the 3rd quarter valued at about $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter valued at about $39,000. Institutional investors and hedge funds 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.