Chevron (NYSE:CVX) Trading 1.1% Higher – What’s Next?

Shares of Chevron Corporation (NYSE:CVX) shot up 1.1% during mid-day trading on Friday . The company traded as high as $151.52 and last traded at $151.21. 3,848,252 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 8,826,865 shares. The stock had previously closed at $149.51.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Melius Research started coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Barclays dropped their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.58.

Chevron Price Performance

The stock has a market cap of $304.46 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a 50 day simple moving average of $154.07 and a 200-day simple moving average of $151.09. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.48 earnings per share. Research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s dividend payout ratio is 96.20%.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new stake in shares of Chevron in the 1st quarter valued at approximately $31,000. Quaker Wealth Management LLC increased its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Chevron during the third quarter valued at about $34,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 118 shares during the period. Institutional investors 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.