Chevron (NYSE:CVX) Shares Up 1.4% - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report)'s share price shot up 1.4% during trading on Thursday . The company traded as high as $138.43 and last traded at $138.54. 1,589,218 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 8,891,802 shares. The stock had previously closed at $136.68.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Wells Fargo & Company lowered their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. BNP Paribas cut shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday. Barclays cut shares of Chevron from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $171.00 to $152.00 in a report on Wednesday. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $165.71.

Chevron Trading Down 0.3 %

The stock has a 50-day moving average price of $151.70 and a two-hundred day moving average price of $152.97. The stock has a market capitalization of $244.18 billion, a PE ratio of 14.27, a PEG ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

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 for the quarter, missing the consensus estimate 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 previous year, the company posted $3.45 EPS. As a group, equities analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

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

Insider Buying and Selling at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated 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 sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter worth $25,000. Mizuho Securities Co. Ltd. bought a new stake in shares of Chevron in the fourth quarter worth about $29,000. 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter worth about $29,000. Fairway Wealth LLC boosted its stake in Chevron by 75.9% during the fourth quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after buying an additional 88 shares during the last quarter. Finally, IFS Advisors LLC grew its holdings in Chevron by 119.6% during the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after buying an additional 116 shares in the last quarter. 72.42% of the stock is 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.