Chevron (NYSE:CVX) Trading Down 0.9% - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report) was down 0.9% on Wednesday . The company traded as low as $133.88 and last traded at $135.67. 3,856,914 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 7,744,953 shares. The stock had previously closed at $136.93.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Raymond James lowered their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Barclays cut their price objective 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. UBS Group lowered their target price on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Wells Fargo & Company cut their price target on 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 restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $172.20.

Chevron Trading Up 0.4 %

The stock has a market cap of $238.54 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The firm's 50 day simple moving average is $155.34 and its two-hundred day simple moving average is $153.81. 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 released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. As a group, equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. This is a positive change from Chevron's previous quarterly dividend of $1.63. Chevron's payout ratio is currently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Chevron during the fourth quarter valued at approximately $3,017,750,000. Raymond James Financial Inc. acquired a new stake in Chevron in the 4th quarter valued at approximately $1,036,302,000. GAMMA Investing LLC raised its stake in Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock valued at $904,746,000 after acquiring an additional 5,382,847 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Chevron by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after acquiring an additional 2,432,756 shares during the period. Finally, Amundi grew its stake in shares of Chevron by 27.7% in the fourth quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock worth $1,323,549,000 after purchasing an additional 1,910,262 shares in the last quarter. 72.42% of the stock is 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.