Chevron (NYSE:CVX) Stock Price Up 0.3% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report) shares shot up 0.3% on Wednesday . The company traded as high as $149.65 and last traded at $148.98. 1,045,980 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 7,618,036 shares. The stock had previously closed at $148.52.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CVX. Sanford C. Bernstein cut Chevron from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lowered their price objective on shares of Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, September 27th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $170.00 price target on shares of Chevron in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Chevron presently has an average rating of "Moderate Buy" and an average price target of $173.07.

Chevron Stock Performance

The company's fifty day moving average price is $146.74 and its two-hundred day moving average price is $153.08. The firm has a market capitalization of $271.26 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. 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 quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.38). The company had revenue of $51.18 billion for 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%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.08 EPS. As a group, equities analysts expect that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date was Monday, August 19th. Chevron's payout ratio is currently 64.55%.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cary Street Partners Asset Management LLC lifted its stake in shares of Chevron by 2.6% during the third quarter. Cary Street Partners Asset Management LLC now owns 3,421 shares of the oil and gas company's stock worth $504,000 after purchasing an additional 87 shares in the last quarter. FSM Wealth Advisors LLC boosted its holdings in Chevron by 1.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 7,309 shares of the oil and gas company's stock worth $1,076,000 after acquiring an additional 108 shares during the period. Moloney Securities Asset Management LLC grew its position in Chevron by 2.9% in the third quarter. Moloney Securities Asset Management LLC now owns 22,583 shares of the oil and gas company's stock valued at $3,326,000 after acquiring an additional 631 shares in the last quarter. Solitude Financial Services lifted its position in shares of Chevron by 42.0% during the third quarter. Solitude Financial Services now owns 20,165 shares of the oil and gas company's stock worth $2,970,000 after purchasing an additional 5,968 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at $2,455,000. Institutional investors and hedge funds 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.

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