Chevron (NYSE:CVX) Trading 0.8% Higher – Here’s Why

Chevron Co. (NYSE:CVX) was up 0.8% during trading on Monday . The stock traded as high as $158.98 and last traded at $158.31. Approximately 1,548,795 shares traded hands during trading, a decline of 79% from the average daily volume of 7,552,224 shares. The stock had previously closed at $157.02.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CVX shares. Raymond James dropped their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Truist Financial cut their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company reduced their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Price Performance

The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $155.49 and its 200-day moving average is $152.23. The stock has a market cap of $283.12 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the business posted $3.45 EPS. Equities research analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. United Bank boosted its stake in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after buying an additional 629 shares during the last quarter. Joseph Group Capital Management grew its position in shares of Chevron by 23.2% in the 3rd quarter. Joseph Group Capital Management now owns 16,393 shares of the oil and gas company’s stock valued at $2,414,000 after acquiring an additional 3,092 shares during the period. New England Asset Management Inc. raised its stake in Chevron by 0.4% in the third quarter. New England Asset Management Inc. now owns 38,685 shares of the oil and gas company’s stock valued at $5,697,000 after buying an additional 145 shares during the period. Windle Wealth LLC boosted its position in Chevron by 12.4% during the third quarter. Windle Wealth LLC now owns 43,928 shares of the oil and gas company’s stock worth $6,469,000 after purchasing an additional 4,851 shares during the period. Finally, Lindenwold Advisors INC raised its stake in Chevron by 1.5% in the 3rd quarter. Lindenwold Advisors INC now owns 15,651 shares of the oil and gas company’s stock worth $2,305,000 after purchasing an additional 238 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.