Chevron (NYSE:CVX) Trading Down 0.5% - Here's Why

Shares of Chevron Co. (NYSE:CVX - Get Free Report) traded down 0.5% during mid-day trading on Friday . The company traded as low as $137.75 and last traded at $138.41. 1,319,037 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 7,930,942 shares. The stock had previously closed at $139.07.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. BNP Paribas lowered Chevron to a "cautious" rating in a research report on Tuesday, April 15th. 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 research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday. Finally, Wells Fargo & Company cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $165.71.

Chevron Price Performance

The stock's 50 day moving average price is $151.70 and its two-hundred day moving average price is $152.99. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $244.18 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 1.46 and a beta of 0.93.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 in the prior year, the company posted $3.45 EPS. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.93%. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently bought and sold shares of the business. Life Planning Partners Inc bought a new position in shares of Chevron in the 4th quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron during the 4th quarter valued at $29,000. 10Elms LLP acquired a new position in shares of Chevron in the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its position in shares of Chevron by 75.9% in the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 88 shares during the last quarter. 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.