Chevron (NYSE:CVX) Shares Up 1.2%

Shares of Chevron Co. (NYSE:CVX - Get Free Report) were up 1.2% during trading on Friday . The stock traded as high as $140.90 and last traded at $140.85. Approximately 873,378 shares changed hands during trading, a decline of 89% from the average daily volume of 7,746,933 shares. The stock had previously closed at $139.21.

Analyst Ratings Changes

Several analysts have recently commented on CVX shares. Scotiabank reduced their price target on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, July 12th. Truist Financial cut their target price on Chevron from $156.00 to $154.00 and set a "hold" rating on the stock in a research report on Monday, August 5th. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a research note on Monday, August 5th. Wolfe Research began coverage on shares of Chevron in a research note on Thursday, July 18th. They issued a "peer perform" rating for the company. Finally, Sanford C. Bernstein downgraded shares of Chevron from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $183.82.

Chevron Stock Up 1.0 %

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 2.37 and a beta of 1.09. The firm's 50 day simple moving average is $149.12 and its 200-day simple moving average is $154.72.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The company had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter in the prior year, the company earned $3.08 EPS. The business's revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Chevron Co. will post 11.63 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued 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 4.64%. Chevron's payout ratio is 59.98%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVX. Gilbert & Cook Inc. raised its holdings in Chevron by 3.7% during the fourth quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company's stock worth $1,538,000 after purchasing an additional 369 shares in the last quarter. Aveo Capital Partners LLC grew its position in Chevron by 1.0% during the fourth quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company's stock worth $1,285,000 after buying an additional 82 shares during the period. Gryphon Financial Partners LLC grew its position in Chevron by 55.0% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company's stock worth $1,648,000 after buying an additional 4,047 shares during the period. Nikko Asset Management Americas Inc. grew its position in Chevron by 6.5% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 42,760 shares of the oil and gas company's stock worth $6,377,000 after buying an additional 2,606 shares during the period. Finally, Fiera Capital Corp grew its position in Chevron by 46.2% during the fourth quarter. Fiera Capital Corp now owns 11,396 shares of the oil and gas company's stock worth $1,700,000 after buying an additional 3,600 shares during the period. 72.42% of the stock is owned by hedge funds and other 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.