Chevron (NYSE:CVX) Trading Down 1.8%

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price dropped 1.8% on Wednesday . The stock traded as low as $135.37 and last traded at $135.71. Approximately 2,987,234 shares were traded during trading, a decline of 61% from the average daily volume of 7,751,456 shares. The stock had previously closed at $138.23.

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Truist Financial dropped their price target on Chevron from $156.00 to $154.00 and set a "hold" rating on the stock in a research report on Monday, August 5th. Scotiabank cut their target price on shares of Chevron from $195.00 to $180.00 and set a "sector outperform" rating for the company in a research note on Friday, July 12th. Barclays decreased their price target on shares of Chevron from $203.00 to $185.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of Chevron from $190.00 to $180.00 and set an "outperform" rating for the company in a research report on Monday, August 5th. Finally, Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.82.

Chevron Trading Down 0.3 %

The firm has a market cap of $252.06 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 2.34 and a beta of 1.09. 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 company's fifty day moving average price is $149.75 and its two-hundred day moving average price is $154.92.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date of this dividend was Monday, August 19th. Chevron's dividend payout ratio is currently 59.98%.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Heritage Wealth Management Inc. bought a new position in shares of Chevron in the second quarter worth about $4,007,000. Lazari Capital Management Inc. increased its holdings in shares of Chevron by 23.0% in the second quarter. Lazari Capital Management Inc. now owns 4,067 shares of the oil and gas company's stock valued at $636,000 after purchasing an additional 761 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Chevron in the 2nd quarter worth approximately $64,869,000. Creekside Partners acquired a new position in Chevron during the 2nd quarter worth $1,391,000. Finally, Brown Financial Advisors bought a new position in Chevron in the 2nd quarter valued at $2,329,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.