Chevron (NYSE:CVX) Stock Price Down 0.8% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report)'s share price fell 0.8% during trading on Wednesday . The company traded as low as $166.58 and last traded at $167.15. 1,216,394 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 7,602,734 shares. The stock had previously closed at $168.51.

Wall Street Analyst Weigh In

Several research firms have issued reports on CVX. UBS Group lowered their price target on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Barclays dropped their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.13.

Chevron Stock Down 8.3 %

The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $157.38 and its two-hundred day moving average is $154.18. The company has a market capitalization of $251.95 billion, a PE ratio of 14.72, a PEG ratio of 1.46 and a beta of 0.93.

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Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.78%. Chevron's dividend payout ratio (DPR) is 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVX. Quent Capital LLC grew its stake in shares of Chevron by 41.5% during the 1st quarter. Quent Capital LLC now owns 4,661 shares of the oil and gas company's stock worth $780,000 after purchasing an additional 1,368 shares during the period. Farmers Trust Co. grew its stake in Chevron by 2.2% in the 1st quarter. Farmers Trust Co. now owns 9,676 shares of the oil and gas company's stock worth $1,619,000 after acquiring an additional 204 shares during the period. Sage Capital Advisors llc increased its stake in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. Moody National Bank Trust Division increased its position in Chevron by 2.3% during the first quarter. Moody National Bank Trust Division now owns 25,579 shares of the oil and gas company's stock worth $4,279,000 after purchasing an additional 568 shares during the last quarter. Finally, Agate Pass Investment Management LLC grew its position in Chevron by 54.9% during the first quarter. Agate Pass Investment Management LLC now owns 12,023 shares of the oil and gas company's stock valued at $2,011,000 after acquiring an additional 4,262 shares during the period. Hedge funds and other 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.