Chevron (NYSE:CVX) Trading Up 0.4%

Chevron Co. (NYSE:CVX - Get Free Report) shares shot up 0.4% during mid-day trading on Thursday . The company traded as high as $138.60 and last traded at $138.39. 1,377,332 shares changed hands during trading, a decline of 82% from the average session volume of 7,756,351 shares. The stock had previously closed at $137.88.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Sanford C. Bernstein cut Chevron from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a "peer perform" rating on the stock. Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a "hold" rating on the stock in a research note on Monday, August 5th. Royal Bank of Canada decreased their target price on Chevron from $190.00 to $180.00 and set an "outperform" rating on the stock in a research note on Monday, August 5th. Finally, Scotiabank decreased their target price on Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, July 12th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $183.82.

Chevron Stock Up 1.0 %

The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $149.40 and a 200 day simple moving average of $154.81. The firm has a market capitalization of $254.62 billion, a PE ratio of 12.81, a PEG ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly 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). The company had revenue of $51.18 billion during the quarter, compared to analysts' expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $3.08 earnings per share. As a group, sell-side analysts forecast that Chevron Co. will post 11.86 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.68%. Chevron's dividend payout ratio is currently 59.98%.

Institutional Investors Weigh In On Chevron

A number of large investors have recently made changes to their positions in CVX. Berkshire Hathaway Inc boosted its position in shares of Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Norges Bank bought a new stake in shares of Chevron during the fourth quarter valued at approximately $2,902,007,000. Ameriprise Financial Inc. boosted its position in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after purchasing an additional 501,969 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Chevron by 4.2% during the first quarter. Bank of New York Mellon Corp now owns 16,103,302 shares of the oil and gas company's stock valued at $2,540,135,000 after purchasing an additional 654,482 shares in the last quarter. Finally, Capital World Investors boosted its position in shares of Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after purchasing an additional 495,879 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.