Chevron (NYSE:CVX) Trading 1.4% Higher

Chevron Co. (NYSE:CVX)’s stock price was up 1.4% during mid-day trading on Friday . The company traded as high as $147.82 and last traded at $147.80. Approximately 885,240 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 7,790,334 shares. The stock had previously closed at $145.73.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, May 13th. Barclays decreased their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and cut their price target for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Finally, HSBC boosted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.82.

Chevron Price Performance

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 50 day moving average of $152.97 and a 200-day moving average of $155.81. The firm has a market capitalization of $272.06 billion, a P/E ratio of 13.58, a P/E/G ratio of 2.46 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm 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 business posted $3.08 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron Co. will post 11.96 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. 3Chopt Investment Partners LLC grew its position in Chevron by 2.3% during the second quarter. 3Chopt Investment Partners LLC now owns 10,570 shares of the oil and gas company’s stock worth $1,653,000 after buying an additional 239 shares in the last quarter. SPC Financial Inc. grew its holdings in shares of Chevron by 23.8% during the 2nd quarter. SPC Financial Inc. now owns 5,671 shares of the oil and gas company’s stock worth $887,000 after purchasing an additional 1,092 shares in the last quarter. McGinn Penninger Investment Management Inc. increased its position in shares of Chevron by 1.9% in the second quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after purchasing an additional 540 shares during the period. Pathway Financial Advisers LLC raised its stake in Chevron by 1.5% in the second quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock valued at $3,832,000 after purchasing an additional 372 shares in the last quarter. Finally, Next Capital Management LLC lifted its position in Chevron by 22.9% during the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 375 shares during the period. 72.42% of the stock is owned by 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.