Chevron (NYSE:CVX) Trading Up 0.3% - Here's What Happened

Shares of Chevron Co. (NYSE:CVX - Get Free Report) shot up 0.3% during mid-day trading on Tuesday . The stock traded as high as $156.03 and last traded at $155.74. 1,419,818 shares were traded during trading, a decline of 81% from the average session volume of 7,354,042 shares. The stock had previously closed at $155.34.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CVX. UBS Group dropped their price target on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $174.13.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $285.53 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.43 and a beta of 1.11. The business's fifty day simple moving average is $151.91 and its 200 day simple moving average is $150.91.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data 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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the firm earned $3.45 EPS. On average, research analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. Chevron's dividend payout ratio (DPR) is currently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron 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 directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMG Wealth Management Inc. purchased a new position in Chevron during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter worth about $29,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new stake in Chevron in the fourth quarter worth about $29,000. Finally, 10Elms LLP bought a new stake in Chevron in the fourth quarter worth about $29,000. 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.