Chevron (NYSE:CVX) Stock Price Down 1% - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report) shares were down 1% during mid-day trading on Friday . The stock traded as low as $153.07 and last traded at $153.15. Approximately 1,378,725 shares were traded during trading, a decline of 82% from the average daily volume of 7,653,081 shares. The stock had previously closed at $154.71.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVX shares. Truist Financial lifted their price objective on Chevron from $155.00 to $160.00 and gave the company a "hold" rating in a research note on Friday, December 6th. Royal Bank of Canada increased their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a research note on Monday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $177.13.

Chevron Stock Down 0.2 %

The company has a market capitalization of $277.56 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 2.98 and a beta of 1.10. The firm's 50 day simple moving average is $155.29 and its 200-day simple moving average is $152.46. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm earned $3.05 EPS. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were issued a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.22%. Chevron's dividend payout ratio (DPR) is 71.65%.

Insiders Place Their Bets

In related news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value 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 $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Several hedge funds have recently bought and sold shares of CVX. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter worth $29,000. Darwin Wealth Management LLC bought a new stake in Chevron during the third quarter valued at about $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter valued at about $31,000. Finally, Anfield Capital Management LLC increased its stake in shares of Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock worth $34,000 after purchasing an additional 118 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

About Chevron

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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