Chevron (NYSE:CVX) Stock Price Up 0.4% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price was up 0.4% during trading on Friday . The stock traded as high as $141.80 and last traded at $141.67. Approximately 3,817,144 shares were traded during trading, a decline of 51% from the average daily volume of 7,736,335 shares. The stock had previously closed at $141.15.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. UBS Group raised their price objective on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a report on Tuesday, December 3rd. 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 research report on Thursday. Scotiabank dropped their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Bank of America began coverage on shares of Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 target price on the stock. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus price target of $175.19.

Chevron Stock Performance

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 company has a market capitalization of $256.71 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. The stock has a 50-day simple moving average of $155.00 and a 200-day simple moving average of $152.05.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for 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%. The firm's quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.05 earnings per share. On average, analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.56%. Chevron's dividend payout ratio (DPR) is 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company's stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rational Advisors LLC acquired a new stake in Chevron during the third quarter worth about $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC acquired a new stake in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter worth approximately $31,000. Finally, Anfield Capital Management LLC boosted its position in Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 118 shares during the period. 72.42% of the stock is 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.