Chevron (NYSE:CVX) Trading Up 0.5%

Chevron Co. (NYSE:CVX)’s share price was up 0.5% during trading on Thursday . The stock traded as high as $152.15 and last traded at $151.77. Approximately 1,431,349 shares changed hands during trading, a decline of 82% from the average daily volume of 7,802,448 shares. The stock had previously closed at $150.95.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CVX shares. UBS Group dropped their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank dropped their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada dropped their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research report on Monday, August 5th. Finally, Truist Financial dropped their target price on Chevron from $154.00 to $150.00 and set a “hold” rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average target price of $179.00.

Chevron Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market capitalization of $277.61 billion, a PE ratio of 13.96, a PEG ratio of 2.64 and a beta of 1.09. The stock has a 50-day moving average price of $146.26 and a two-hundred day moving average price of $154.19.

Chevron (NYSE:CVX) last issued its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $3.08 EPS. As a group, equities analysts forecast that Chevron Co. will post 11.02 earnings per share for the current year.

Chevron Announces Dividend

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. This represents a $6.52 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Berkshire Hathaway Inc increased its stake in Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares during the last quarter. Wulff Hansen & CO. increased its stake in Chevron by 15,542.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,175,653 shares of the oil and gas company’s stock worth $183,896,000 after acquiring an additional 1,168,137 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Chevron in the 1st quarter worth approximately $156,482,000. Finally, Confluence Investment Management LLC bought a new stake in Chevron in the 1st quarter worth approximately $123,681,000. Institutional investors 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.