Chevron (NYSE:CVX) Shares Up 0.3% – Here’s What Happened

Shares of Chevron Co. (NYSE:CVX) were up 0.3% during mid-day trading on Wednesday . The stock traded as high as $156.43 and last traded at $155.68. Approximately 1,613,531 shares traded hands during trading, a decline of 79% from the average daily volume of 7,627,879 shares. The stock had previously closed at $155.29.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group increased their price target on Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Wolfe Research started coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Royal Bank of Canada lifted their target price on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 2.3 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a market cap of $285.38 billion, a PE ratio of 17.20, a P/E/G ratio of 3.49 and a beta of 1.09. The business has a fifty day moving average price of $148.18 and a 200 day moving average price of $152.61.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) 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 business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter in the prior year, the business posted $3.05 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts forecast that Chevron Co. will post 10.55 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.11%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently made changes to their positions in the business. Rational Advisors LLC purchased a new stake in shares of Chevron during the third quarter worth approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron in the 3rd quarter worth $30,000. Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Finally, Krane Funds Advisors LLC acquired a new position in Chevron during the 3rd quarter worth approximately $47,000. 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.