Chevron (NYSE:CVX) Stock Price Up 0.6% - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price traded up 0.6% during trading on Monday . The stock traded as high as $140.46 and last traded at $139.61. 1,540,008 shares changed hands during trading, a decline of 81% from the average session volume of 7,913,674 shares. The stock had previously closed at $138.73.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. UBS Group dropped their target price on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $165.71.

Chevron Stock Performance

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average price is $151.70 and its 200 day moving average price is $152.99. The stock has a market capitalization of $244.86 billion, a price-to-earnings ratio of 14.31, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 firm earned $3.45 earnings per share. Analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently declared 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. This represents a $6.84 dividend on an annualized basis and a yield of 4.92%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron's payout ratio is 70.37%.

Insider Transactions at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Chevron in the 4th quarter worth approximately $3,017,750,000. Raymond James Financial Inc. purchased a new position in shares of Chevron in the 4th quarter worth $1,036,302,000. GAMMA Investing LLC grew its holdings in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company's stock worth $904,746,000 after purchasing an additional 5,382,847 shares during the period. Bank of New York Mellon Corp grew its stake in Chevron by 17.3% during the fourth quarter. Bank of New York Mellon Corp now owns 16,496,687 shares of the oil and gas company's stock worth $2,389,380,000 after buying an additional 2,432,756 shares during the period. Finally, Amundi raised its holdings in shares of Chevron by 27.7% during the 4th quarter. Amundi now owns 8,806,050 shares of the oil and gas company's stock valued at $1,323,549,000 after buying an additional 1,910,262 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

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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