Chevron (NYSE:CVX) Trading Down 0.9% - Time to Sell?

Chevron Co. (NYSE:CVX - Get Free Report)'s share price fell 0.9% on Wednesday . The stock traded as low as $133.88 and last traded at $135.67. 3,856,914 shares were traded during mid-day trading, a decline of 50% from the average session volume of 7,744,953 shares. The stock had previously closed at $136.93.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $160.00 to $143.00 in a research note on Friday. Wells Fargo & Company dropped their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Tuesday. Truist Financial reduced their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Barclays reduced their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Chevron currently has a consensus rating of "Moderate Buy" and an average target price of $169.50.

Chevron Price Performance

The firm has a market capitalization of $236.88 billion, a P/E ratio of 13.84, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. 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 has a 50 day moving average price of $154.64 and a 200-day moving average price of $153.69.

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Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 return on equity of 11.44% and a net margin of 8.71%. During the same period in the prior year, the company earned $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 5.08%. Chevron's payout ratio is currently 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chevron

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in Chevron by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock valued at $5,247,142,000 after buying an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Chevron by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company's stock valued at $4,613,960,000 after acquiring an additional 746,806 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron during the fourth quarter valued at approximately $3,017,750,000. Northern Trust Corp boosted its holdings in shares of Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares during the period. Finally, Fisher Asset Management LLC grew its stake in Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after purchasing an additional 410,460 shares in the last quarter. Hedge funds and other institutional investors 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.