Chevron (NYSE:CVX) Stock Price Up 0.1% - Here's What Happened

Shares of Chevron Co. (NYSE:CVX - Get Free Report) were up 0.1% during trading on Thursday . The stock traded as high as $154.43 and last traded at $152.76. Approximately 2,064,938 shares traded hands during trading, a decline of 73% from the average daily volume of 7,552,914 shares. The stock had previously closed at $152.67.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CVX. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Wells Fargo & Company decreased their price objective on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Raymond James reduced their target price 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. Finally, Truist Financial lowered their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.13.

Chevron Price Performance

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 stock has a 50-day simple moving average of $154.71 and a 200 day simple moving average of $151.91. The company has a market cap of $270.23 billion, a PE ratio of 15.79, a P/E/G ratio of 1.46 and a beta of 1.08.

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Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 earned $3.45 EPS. Equities analysts expect that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed 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. 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 4.46%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The shares were 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. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. PKO Investment Management Joint Stock Co purchased a new position in shares of Chevron during the fourth quarter worth about $7,658,000. Northstar Financial Companies Inc. purchased a new position in shares of Chevron in the 4th quarter valued at approximately $1,357,000. Campbell Deegan Wealth Management LLC purchased a new stake in shares of Chevron during the fourth quarter worth approximately $466,000. Anchor Pointe Wealth Management LLC acquired a new position in Chevron in the 4th quarter valued at $334,000. Finally, SpringVest Wealth Management LLC purchased a new stake in Chevron in the 4th quarter valued at approximately $270,000. 72.42% of the stock is currently 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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