Chevron (NYSE:CVX) Stock Price Down 1.1% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report)'s share price traded down 1.1% during trading on Monday . The stock traded as low as $151.67 and last traded at $152.16. 2,088,103 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 7,648,316 shares. The stock had previously closed at $153.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank of Canada raised their price target on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. UBS Group raised their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a "buy" rating in a research note on Tuesday, December 3rd. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target on the stock in a report on Tuesday, November 5th. Finally, Scotiabank decreased their price objective 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $177.13.

Chevron Trading Down 3.0 %

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 firm has a market capitalization of $268.29 billion, a PE ratio of 16.41, a PEG ratio of 2.93 and a beta of 1.10. The stock's fifty day simple moving average is $155.31 and its 200 day simple moving average is $152.29.

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

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, November 18th. Chevron's dividend payout ratio (DPR) is presently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.20% of the company's stock.

Institutional Trading of Chevron

Several hedge funds have recently made changes to their positions in the business. Tacita Capital Inc lifted its holdings in Chevron by 16.7% in the third quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 65 shares during the period. Wallace Capital Management Inc. increased its holdings in shares of Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company's stock valued at $1,212,000 after purchasing an additional 65 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in shares of Chevron by 0.3% in the third quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company's stock valued at $2,911,000 after purchasing an additional 67 shares during the period. S.A. Mason LLC grew its position in Chevron by 0.7% during the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company's stock worth $1,330,000 after buying an additional 67 shares during the period. Finally, Jag Capital Management LLC increased its holdings in Chevron by 5.2% in the third quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company's stock valued at $201,000 after buying an additional 67 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.