Chevron (NYSE:CVX) Stock Price Down 0.6% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report) shares traded down 0.6% during trading on Wednesday . The company traded as low as $156.66 and last traded at $157.29. 1,568,591 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 7,552,490 shares. The stock had previously closed at $158.24.

Analyst Ratings Changes

A number of research analysts have commented on the company. Truist Financial increased their price objective on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research report on Monday, January 13th. Raymond James lifted their price target on Chevron from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Scotiabank decreased their price objective on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Citigroup upgraded Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Chevron Trading Down 0.4 %

The business's 50 day simple moving average is $154.09 and its two-hundred day simple moving average is $151.07. The stock has a market cap of $283.33 billion, a P/E ratio of 17.32, a PEG ratio of 1.45 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company's revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 earnings per share. As a group, analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron's dividend payout ratio is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chevron

Several large investors have recently modified their holdings of CVX. Kavar Capital Partners Group LLC boosted its position in Chevron by 4.0% during the fourth quarter. Kavar Capital Partners Group LLC now owns 21,531 shares of the oil and gas company's stock valued at $3,119,000 after acquiring an additional 832 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Chevron by 1.1% during the 4th quarter. Pacer Advisors Inc. now owns 3,862,178 shares of the oil and gas company's stock valued at $559,398,000 after purchasing an additional 42,215 shares in the last quarter. United Asset Strategies Inc. grew its stake in Chevron by 2.4% during the fourth quarter. United Asset Strategies Inc. now owns 82,321 shares of the oil and gas company's stock worth $11,923,000 after purchasing an additional 1,941 shares during the period. Cornerstone Wealth Group LLC increased its holdings in Chevron by 3.5% in the fourth quarter. Cornerstone Wealth Group LLC now owns 48,629 shares of the oil and gas company's stock worth $7,043,000 after purchasing an additional 1,648 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Chevron in the fourth quarter valued at approximately $8,947,000. 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.

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