Chevron (NYSE:CVX) Shares Down 0.6% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report) shares dropped 0.6% during trading on Tuesday . The stock traded as low as $149.12 and last traded at $149.60. Approximately 1,012,307 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 7,624,838 shares. The stock had previously closed at $150.54.

Analysts Set New Price Targets

CVX has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Chevron from $154.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, September 30th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target on the stock. Wolfe Research initiated coverage on Chevron in a research note on Thursday, July 18th. They issued a "peer perform" rating for the company. Barclays dropped their target price on Chevron from $185.00 to $168.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Finally, UBS Group raised their price target on shares of Chevron from $189.00 to $192.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, Chevron has a consensus rating of "Moderate Buy" and a consensus target price of $173.07.

Chevron Stock Performance

The stock has a fifty day moving average price of $146.66 and a 200 day moving average price of $153.15. 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 firm has a market cap of $271.69 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 3.29 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 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 for the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the business earned $3.08 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts predict that Chevron Co. will post 10.86 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.39%. Chevron's payout ratio is 64.55%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVX. IAG Wealth Partners LLC increased its holdings in shares of Chevron by 4.3% during the 3rd quarter. IAG Wealth Partners LLC now owns 2,374 shares of the oil and gas company's stock worth $350,000 after purchasing an additional 98 shares during the period. BSW Wealth Partners increased its stake in Chevron by 14.3% during the third quarter. BSW Wealth Partners now owns 4,197 shares of the oil and gas company's stock valued at $618,000 after acquiring an additional 526 shares during the period. Angeles Wealth Management LLC raised its holdings in Chevron by 5.7% in the 3rd quarter. Angeles Wealth Management LLC now owns 7,973 shares of the oil and gas company's stock valued at $1,174,000 after acquiring an additional 429 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Chevron by 45.8% in the 3rd quarter. Van ECK Associates Corp now owns 640,246 shares of the oil and gas company's stock worth $96,344,000 after acquiring an additional 201,189 shares during the period. Finally, Whitener Capital Management Inc. grew its holdings in shares of Chevron by 11.1% during the 3rd quarter. Whitener Capital Management Inc. now owns 19,056 shares of the oil and gas company's stock worth $2,806,000 after purchasing an additional 1,911 shares in the last quarter. 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.