Chevron (NYSE:CVX) Stock Price Up 0.5% – Here’s Why

Chevron Co. (NYSE:CVX)’s stock price was up 0.5% during mid-day trading on Tuesday . The company traded as high as $167.93 and last traded at $168.10. Approximately 1,652,309 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 7,603,746 shares. The stock had previously closed at $167.29.

Analyst Upgrades and Downgrades

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

Chevron Trading Up 0.2 %

The stock has a market cap of $295.23 billion, a PE ratio of 17.25, a PEG ratio of 1.46 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $157.22 and a two-hundred day simple moving average of $153.80.

Chevron (NYSE:CVX) last announced its earnings results 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 prior year, the business earned $3.45 EPS. As a group, equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction 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. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Life Planning Partners Inc bought a new stake in Chevron in the fourth quarter worth $25,000. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Chevron during the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. bought a new position in Chevron during the 4th quarter worth approximately $29,000. Finally, 10Elms LLP purchased a new position in Chevron in the 4th quarter worth approximately $29,000. 72.42% of the stock is currently 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.