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

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

Analyst Ratings Changes

CVX has been the subject of a number of recent research reports. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. UBS Group dropped their target price on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Piper Sandler decreased their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Down 0.9 %

The stock has a 50-day simple moving average of $156.87 and a two-hundred day simple moving average of $153.11. 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 firm has a market cap of $293.00 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last announced 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 quarter in the previous year, the business earned $3.45 EPS. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.11%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In other Chevron 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 value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chevron

Institutional investors have recently bought and sold shares of the stock. Fire Capital Management LLC purchased a new stake in Chevron in the 4th quarter worth approximately $598,000. Mascagni Wealth Management Inc. bought a new position in shares of Chevron in the fourth quarter worth approximately $940,000. DSG Capital Advisors LLC purchased a new stake in shares of Chevron in the fourth quarter worth $2,743,000. Chancellor Financial Group WB LP bought a new stake in shares of Chevron during the 4th quarter valued at $632,000. Finally, Triton Wealth Management PLLC lifted its stake in shares of Chevron by 24.8% during 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 buying an additional 578 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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.