Chevron (NYSE:CVX) Shares Up 0.5% - Here's Why

Shares of Chevron Co. (NYSE:CVX - Get Free Report) rose 0.5% during mid-day trading on Monday . The stock traded as high as $166.17 and last traded at $165.54. Approximately 1,895,835 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 7,315,748 shares. The stock had previously closed at $164.75.

Analysts Set New Price Targets

CVX has been the subject of several research reports. Piper Sandler dropped their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Barclays dropped their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Finally, 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 report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of "Moderate Buy" and an average price target of $174.13.

Chevron Trading Down 1.0 %

The firm has a market cap of $292.82 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The business's 50 day moving average is $156.87 and its 200-day moving average is $153.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

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Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the business earned $3.45 EPS. As a group, analysts forecast that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This is a positive change from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio (DPR) is presently 70.37%.

Insider Activity at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company's stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in CVX. United Bank lifted its position in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company's stock worth $1,192,000 after buying an additional 629 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Chevron by 7.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company's stock worth $355,000 after acquiring an additional 163 shares during the last quarter. Truvestments Capital LLC bought a new stake in Chevron during the 3rd quarter valued at approximately $180,000. Townsquare Capital LLC increased its position in Chevron by 16.9% in the 3rd quarter. Townsquare Capital LLC now owns 245,998 shares of the oil and gas company's stock worth $36,228,000 after buying an additional 35,525 shares during the period. Finally, Hardy Reed LLC increased its position in Chevron by 9.2% during the third quarter. Hardy Reed LLC now owns 11,387 shares of the oil and gas company's stock worth $1,677,000 after acquiring an additional 963 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

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.