Chevron (NYSE:CVX) Trading Down 1%

Chevron Co. (NYSE:CVX)’s share price dropped 1% during mid-day trading on Wednesday . The stock traded as low as $145.86 and last traded at $145.92. Approximately 1,155,539 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 7,790,044 shares. The stock had previously closed at $147.45.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CVX shares. Wells Fargo & Company reduced their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday. Wolfe Research assumed coverage on Chevron in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays lowered their price target on Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, Mizuho cut their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and an average target price of $180.24.

Chevron Stock Up 2.3 %

The firm’s 50 day moving average price is $146.90 and its 200-day moving average price is $154.34. 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 has a market cap of $265.65 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 2.68 and a beta of 1.09.

Chevron (NYSE:CVX) last released its 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the firm posted $3.08 EPS. Chevron’s revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 11.02 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.49%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eagle Capital Management LLC grew its stake in Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after acquiring an additional 163 shares during the period. Lane & Associates LLC bought a new stake in shares of Chevron in the first quarter valued at about $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% in the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Livelsberger Financial Advisory bought a new stake in shares of Chevron in the fourth quarter valued at about $46,000. Finally, Hosking Partners LLP bought a new stake in shares of Chevron in the first quarter valued at about $4,924,000. 72.42% of the stock is 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.