Shares of Chevron Co. (NYSE:CVX – Get Free Report) were down 0.3% during trading on Monday after Truist Financial lowered their price target on the stock from $168.00 to $156.00. Truist Financial currently has a hold rating on the stock. Chevron traded as low as $160.33 and last traded at $161.17. Approximately 1,418,941 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 8,601,913 shares. The stock had previously closed at $161.60.
CVX has been the topic of a number of other reports. DZ Bank downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a research note on Tuesday, February 6th. Piper Sandler dropped their price objective on shares of Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a research note on Thursday, March 14th. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Scotiabank downgraded shares of Chevron from a “sector outperform” rating to a “sector perform” rating and set a $170.00 price objective on the stock. in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Monday, January 8th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.63.
Insiders Place Their Bets
In related news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in CVX. Addison Capital Co grew its position in Chevron by 1.9% during the second quarter. Addison Capital Co now owns 3,339 shares of the oil and gas company’s stock valued at $525,000 after buying an additional 63 shares during the period. Sweet Financial Partners LLC grew its position in Chevron by 0.7% during the third quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock valued at $1,477,000 after buying an additional 65 shares during the period. Strategic Investment Advisors MI grew its position in Chevron by 3.8% during the third quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 65 shares during the period. NCM Capital Management LLC grew its position in Chevron by 1.2% during the first quarter. NCM Capital Management LLC now owns 5,570 shares of the oil and gas company’s stock valued at $909,000 after buying an additional 65 shares during the period. Finally, Alera Investment Advisors LLC grew its position in Chevron by 1.0% during the third quarter. Alera Investment Advisors LLC now owns 6,486 shares of the oil and gas company’s stock valued at $1,094,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.
Chevron Trading Down 0.2 %
The company has a market cap of $299.58 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $153.72 and its 200 day moving average is $152.24.
Chevron (NYSE:CVX – Get Free Report) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, beating the consensus estimate of $3.19 by $0.26. The company had revenue of $47.18 billion for the quarter, compared to analyst estimates of $50.93 billion. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter last year, the business earned $4.09 earnings per share. Research analysts predict that Chevron Co. will post 13.13 EPS for the current year.
Chevron Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were given a $1.63 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.51. The ex-dividend date was Thursday, February 15th. This represents a $6.52 annualized dividend and a dividend yield of 4.04%. Chevron’s dividend payout ratio (DPR) is 57.39%.
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.