Chevron (NYSE:CVX) Trading Down 0%

Chevron Co. (NYSE:CVX) dropped 0% during mid-day trading on Thursday . The company traded as low as $162.67 and last traded at $163.49. Approximately 2,726,042 shares were traded during trading, a decline of 67% from the average daily volume of 8,373,238 shares. The stock had previously closed at $163.57.

Analysts Set New Price Targets

CVX has been the subject of several research analyst reports. DZ Bank cut Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a research note on Tuesday, February 6th. Scotiabank upgraded shares of Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Royal Bank of Canada upped their target price on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research report on Monday, February 5th. Finally, Mizuho raised their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $184.75.

Chevron Stock Performance

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 firm has a 50-day moving average of $156.14 and a 200 day moving average of $151.75. The stock has a market capitalization of $306.97 billion, a P/E ratio of 14.39, a PEG ratio of 2.40 and a beta of 1.12.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 2nd. The oil and gas company reported $3.45 EPS for the quarter, topping the consensus estimate of $3.19 by $0.26. Chevron had a return on equity of 15.24% and a net margin of 10.63%. The company had revenue of $47.18 billion for the quarter, compared to analysts’ expectations of $50.93 billion. During the same quarter in the prior year, the business earned $4.09 earnings per share. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 13.58 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 16th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 3.94%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s dividend payout ratio (DPR) is 57.39%.

Insider Buying and Selling

In other news, VP Alana K. Knowles sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at $44,184.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Picton Mahoney Asset Management acquired a new position in shares of Chevron in the third quarter valued at about $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the 4th quarter valued at $27,000. Valley Forge Investment Consultants Inc. ADV raised its position in shares of Chevron by 80.0% during the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Chevron in the fourth quarter valued at approximately $30,000. Finally, Valued Wealth Advisors LLC bought a new position in Chevron during the 4th quarter worth approximately $33,000. 72.42% of the stock is currently 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.