Chevron (NYSE:CVX) Shares Down 1.2% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report) shares dropped 1.2% during mid-day trading on Tuesday . The company traded as low as $147.32 and last traded at $147.56. Approximately 2,502,806 shares traded hands during trading, a decline of 67% from the average daily volume of 7,668,317 shares. The stock had previously closed at $149.36.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CVX shares. Wells Fargo & Company upped their price target on shares of Chevron from $171.00 to $188.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Barclays raised their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research report on Monday, November 4th. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an "outperform" rating on the stock in a research note on Monday, September 16th. DZ Bank raised Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $177.13.

Chevron Stock Down 0.8 %

The company's fifty day simple moving average is $155.30 and its 200-day simple moving average is $152.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $266.26 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analysts' expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. Chevron's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the business earned $3.05 EPS. On average, analysts forecast that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.40%. Chevron's dividend payout ratio is currently 71.65%.

Insider Transactions at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its stake in shares of Chevron by 19,404.1% in the 3rd quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company's stock valued at $7,218,280,000 after purchasing an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC raised its position in shares of Chevron by 15,750.1% in the third quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company's stock worth $574,551,000 after acquiring an additional 3,876,731 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company's stock worth $562,566,000 after acquiring an additional 3,456,008 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Chevron by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock valued at $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company's stock valued at $1,335,492,000 after purchasing an additional 3,048,819 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

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.