Chevron (NYSE:CVX) Stock Price Down 2%

Chevron Co. (NYSE:CVX)’s share price traded down 2% during trading on Tuesday . The company traded as low as $144.46 and last traded at $145.02. 2,448,528 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 7,710,893 shares. The stock had previously closed at $147.95.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CVX shares. Scotiabank reduced their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada reduced their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Mizuho increased their price objective on shares of Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Monday, May 13th. 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. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market cap of $257.79 billion, a P/E ratio of 13.06, a PEG ratio of 2.50 and a beta of 1.09. The firm’s 50-day moving average price is $151.49 and its 200 day moving average price is $155.47.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.63%. Chevron’s dividend payout ratio (DPR) is 59.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. American Capital Advisory LLC boosted its stake in Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $30,000. Anfield Capital Management LLC boosted its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC acquired a new stake in Chevron in the fourth quarter worth $40,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.