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

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CVX shares. UBS Group lowered their price target on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a report on Tuesday, February 4th. Barclays cut their price target on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company lowered their price objective on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Chevron Trading Down 6.3 %

The firm has a market cap of $274.61 billion, a PE ratio of 16.05, a P/E/G ratio of 1.46 and a beta of 1.08. The firm has a 50 day moving average of $157.63 and a 200 day moving average of $154.10. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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 business posted $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is presently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in CVX. Life Planning Partners Inc bought a new position in Chevron in the fourth quarter worth about $25,000. IMG Wealth Management Inc. purchased a new stake in Chevron during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in Chevron in the 3rd quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the fourth quarter valued at approximately $29,000. Finally, 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth $29,000. 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.