Chevron (NYSE:CVX) Trading 0.7% Higher

Chevron Co. (NYSE:CVX) shares were up 0.7% on Friday . The stock traded as high as $158.58 and last traded at $157.44. Approximately 1,916,925 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 8,005,870 shares. The stock had previously closed at $156.32.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CVX. UBS Group boosted their price objective on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research note on Tuesday, April 9th. Truist Financial raised their price objective on Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research report on Friday, May 10th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a research report on Monday, April 1st. HSBC lifted their price objective on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Raymond James increased their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.95.

Chevron Price Performance

The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. The firm’s fifty day moving average price is $159.22 and its 200 day moving average price is $154.71. The firm has a market capitalization of $288.28 billion, a PE ratio of 14.39, a P/E/G ratio of 2.38 and a beta of 1.12.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the business posted $3.55 EPS. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts forecast that Chevron Co. will post 13.15 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date was Thursday, May 16th. Chevron’s payout ratio is presently 59.98%.

Insiders Place Their Bets

In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of Chevron stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now directly owns 2,549 shares of the company’s stock, valued at approximately $416,761.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Enrique Hernandez, Jr. sold 5,098 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the sale, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of Chevron stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,546 shares of company stock worth $3,176,223. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of large investors have recently bought and sold shares of CVX. Renaissance Investment Group LLC grew its position in shares of Chevron by 12.7% in the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock valued at $923,000 after purchasing an additional 697 shares during the period. Camelot Portfolios LLC purchased a new stake in Chevron during the 4th quarter worth approximately $254,000. Kapstone Financial Advisors LLC raised its holdings in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after acquiring an additional 211 shares during the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron in the first quarter valued at approximately $345,000. Finally, Guyasuta Investment Advisors Inc. boosted its stake in shares of Chevron by 1.7% in the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock worth $32,307,000 after acquiring an additional 3,603 shares during the last quarter. 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.