Chevron (NYSE:CVX) Trading Down 1.4% – What’s Next?

Chevron Corporation (NYSE:CVX) fell 1.4% during trading on Tuesday . The stock traded as low as $144.51 and last traded at $144.86. 2,510,573 shares changed hands during trading, a decline of 69% from the average session volume of 8,218,912 shares. The stock had previously closed at $146.86.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CVX. Barclays downgraded Chevron from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Wells Fargo & Company decreased their price target on Chevron from $173.00 to $164.00 and set an “overweight” rating for the company in a report on Monday, May 5th. Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, DZ Bank downgraded Chevron from a “buy” rating to a “sell” rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Chevron currently has a consensus rating of “Hold” and an average target price of $160.24.

Chevron Price Performance

The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $139.60 and a 200 day moving average price of $148.52. The stock has a market cap of $251.74 billion, a PE ratio of 16.47, a PEG ratio of 2.63 and a beta of 0.83.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The firm had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter in the prior year, the firm earned $2.93 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Monday, May 19th were issued a dividend of $1.71 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.75%. Chevron’s dividend payout ratio (DPR) is 78.17%.

Institutional Trading of Chevron

A number of institutional investors have recently added to or reduced their stakes in CVX. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new stake in Chevron during the 4th quarter worth about $25,000. Harvest Fund Management Co. Ltd lifted its holdings in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares in the last quarter. Mizuho Securities Co. Ltd. bought a new position in Chevron in the 4th quarter worth about $29,000. Finally, 10Elms LLP bought a new position in Chevron in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.