Chevron (NYSE:CVX) Trading Down 1.8%

Chevron Co. (NYSE:CVX)’s share price dropped 1.8% during trading on Wednesday . The company traded as low as $135.37 and last traded at $135.71. Approximately 2,987,234 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 7,751,456 shares. The stock had previously closed at $138.23.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays cut their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Truist Financial decreased their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, August 5th. Finally, Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Trading Down 0.2 %

The company has a fifty day simple moving average of $150.13 and a two-hundred day simple moving average of $155.04. The company has a market capitalization of $254.26 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.08 EPS. On average, analysts forecast that Chevron Co. will post 11.86 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Institutional Investors Weigh In On Chevron

Hedge funds have recently bought and sold shares of the company. Gilbert & Cook Inc. grew its stake in shares of Chevron by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after acquiring an additional 369 shares during the last quarter. Aveo Capital Partners LLC raised its position in shares of Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock valued at $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC lifted its stake in shares of Chevron by 55.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock valued at $1,648,000 after buying an additional 4,047 shares during the period. Foundations Investment Advisors LLC grew its position in Chevron by 22.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 103,603 shares of the oil and gas company’s stock worth $15,322,000 after buying an additional 18,784 shares in the last quarter. Finally, Wealth Advisors of Iowa LLC increased its stake in Chevron by 5.9% during the fourth quarter. Wealth Advisors of Iowa LLC now owns 1,986 shares of the oil and gas company’s stock valued at $296,000 after acquiring an additional 110 shares during the period. 72.42% of the stock is currently owned by institutional investors.

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.