Chevron (NYSE:CVX) Trading Up 0.6% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price rose 0.6% during trading on Tuesday . The stock traded as high as $167.82 and last traded at $166.04. Approximately 1,967,906 shares changed hands during trading, a decline of 73% from the average daily volume of 7,337,986 shares. The stock had previously closed at $165.02.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Barclays decreased their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Finally, Piper Sandler reduced their price target on shares of Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $174.13.

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Chevron Stock Down 0.7 %

The firm has a market cap of $293.54 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.46 and a beta of 1.08. The firm has a fifty day moving average price of $156.87 and a 200-day moving average price of $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.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 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 in the previous year, the firm posted $3.45 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This is a positive change from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 annualized dividend and a yield of 4.10%. Chevron's dividend payout ratio is 70.37%.

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the fourth quarter worth $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Chevron during the 4th quarter valued at $29,000. Finally, 10Elms LLP purchased a new stake in Chevron during the 4th quarter worth $29,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.