Chevron (NYSE:CVX) Shares Down 0.4%

by · The Markets Daily

Chevron Co. (NYSE:CVX – Get Free Report)’s stock price traded down 0.4% on Tuesday . The company traded as low as $160.63 and last traded at $160.66. 1,305,083 shares traded hands during trading, a decline of 85% from the average session volume of 8,580,425 shares. The stock had previously closed at $161.27.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a report on Monday, April 1st. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company increased their price objective on shares of Chevron from $185.00 to $198.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.26.

Read Our Latest Stock Analysis on CVX

Chevron Stock Down 0.2 %

The business’s 50-day moving average price is $153.96 and its 200-day moving average price is $152.21. 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 market capitalization of $298.93 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 2.46 and a beta of 1.12.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.26. The firm 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 company’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.09 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 13.13 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 4.05%. Chevron’s dividend payout ratio (DPR) is currently 57.39%.

Insider Activity

In other news, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the transaction, 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. Insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently bought and sold shares of the business. Addison Capital Co grew its holdings in Chevron by 1.9% in the 2nd 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 in the last quarter. NCM Capital Management LLC grew its position in Chevron by 1.2% in 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 acquiring an additional 65 shares during the last quarter. Sweet Financial Partners LLC raised its stake 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 worth $1,477,000 after acquiring an additional 65 shares in the last quarter. Strategic Investment Advisors MI raised its stake 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 worth $296,000 after acquiring an additional 65 shares in the last quarter. Finally, Alera Investment Advisors LLC increased its stake in shares of Chevron by 1.0% in 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. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

(Get Free Report)

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.

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