Chevron (NYSE:CVX) Trading Up 0.6% – Here’s What Happened

Chevron Co. (NYSE:CVX) shares rose 0.6% on Friday . The company traded as high as $145.71 and last traded at $144.78. Approximately 1,125,463 shares traded hands during trading, a decline of 86% from the average daily volume of 7,796,422 shares. The stock had previously closed at $143.98.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Piper Sandler cut 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. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Truist Financial raised their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $175.19.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $258.39 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. The company has a 50-day simple moving average of $154.33 and a two-hundred day simple moving average of $151.62.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 EPS. Chevron’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared 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 of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.53%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rational Advisors LLC acquired a new stake in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the third quarter valued at $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the 3rd quarter worth about $31,000. Finally, Anfield Capital Management LLC lifted its stake in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares in the last quarter. 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.