Chevron (NYSE:CVX) Trading 0.6% Higher - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report) shares rose 0.6% on Thursday . The stock traded as high as $158.74 and last traded at $158.16. Approximately 2,095,607 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,259,462 shares. The stock had previously closed at $157.23.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Barclays lowered their target price on shares of 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 target price 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 lowered their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a report on Monday, February 3rd. Finally, UBS Group lowered their target price on shares of Chevron from $195.00 to $194.00 and set a "buy" rating on the stock in a 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 company's stock. According to data from MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average target price of $174.13.

Chevron Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $282.00 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 1.46 and a beta of 1.11. The company's 50-day moving average is $151.97 and its 200-day moving average is $151.05.

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 net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the company earned $3.45 EPS. On average, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a yield of 4.36%. Chevron's dividend payout ratio is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company's 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 transaction, the vice president now directly owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company's stock.

Institutional Trading of Chevron

A number of hedge funds have recently modified their holdings of CVX. Life Planning Partners Inc acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $25,000. Rational Advisors LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at approximately $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. 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.