Chevron (NYSE:CVX) Hits New 52-Week Low at $137.59

Chevron Co. (NYSE:CVX - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $137.59 and last traded at $137.77, with a volume of 1832925 shares changing hands. The stock had previously closed at $140.30.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Royal Bank of Canada reduced their target price on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a report on Monday, August 5th. Scotiabank reduced their price target on Chevron from $195.00 to $180.00 and set a "sector outperform" rating for the company in a research report on Friday, July 12th. Mizuho lifted their price objective on Chevron from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Monday, May 13th. Barclays cut their price objective on Chevron from $203.00 to $185.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein cut shares of Chevron from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $183.82.

Chevron Price Performance

The firm has a market cap of $254.73 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.34 and a beta of 1.09. The firm's fifty day simple moving average is $150.50 and its 200 day simple moving average is $155.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the company posted $3.08 earnings per share. The firm's revenue was up 4.7% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.72%. Chevron's dividend payout ratio (DPR) is presently 59.98%.

Hedge Funds Weigh In On Chevron

Several large investors have recently modified their holdings of the stock. Eagle Capital Management LLC raised its stake in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company's stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new stake in Chevron in the first quarter worth about $345,000. Seven Mile Advisory boosted its position in shares of Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company's stock valued at $413,000 after buying an additional 247 shares during the period. KCM Investment Advisors LLC grew its stake in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company's stock valued at $52,299,000 after buying an additional 8,168 shares during the last quarter. Finally, Livelsberger Financial Advisory purchased a new stake in shares of Chevron in the fourth quarter worth approximately $46,000. Institutional investors 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.