Chevron (NYSE:CVX) Hits New 1-Year High – Here’s Why

Shares of Chevron Co. (NYSE:CVX) hit a new 52-week high during trading on Tuesday . The company traded as high as $167.34 and last traded at $167.64, with a volume of 136761 shares. The stock had previously closed at $165.02.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Raymond James decreased their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays lowered their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Chevron Stock Up 1.2 %

The stock has a market cap of $295.69 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company’s fifty day moving average price is $156.87 and its 200-day moving average price is $153.11.

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

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.07%. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

A number of institutional investors have recently made changes to their positions in the business. Fire Capital Management LLC acquired a new position in Chevron in the 4th quarter worth approximately $598,000. Mascagni Wealth Management Inc. purchased a new stake in Chevron in the fourth quarter valued at $940,000. DSG Capital Advisors LLC acquired a new stake in Chevron during the 4th quarter worth about $2,743,000. Chancellor Financial Group WB LP purchased a new position in shares of Chevron during the 4th quarter valued at about $632,000. Finally, Triton Wealth Management PLLC lifted its holdings in shares of Chevron by 24.8% in the 4th quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company’s stock valued at $461,000 after buying an additional 578 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

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.