Chevron (NYSE:CVX) Shares Down 0.1%

Chevron Co. (NYSE:CVX) was down 0.1% during mid-day trading on Tuesday . The company traded as low as $156.32 and last traded at $156.32. Approximately 1,048,586 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 8,007,670 shares. The stock had previously closed at $156.52.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CVX shares. Raymond James lifted their target price on shares of Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Truist Financial lifted their target price on shares of Chevron from $156.00 to $166.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Piper Sandler lifted their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research note on Thursday, April 18th. Mizuho lifted their target price on shares of Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Finally, HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Chevron Price Performance

The stock’s 50-day moving average is $158.99 and its 200-day moving average is $154.88. The firm has a market cap of $288.89 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.38 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.23 and a debt-to-equity ratio of 0.13.

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

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 17th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, May 16th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In related news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the transaction, the vice president now owns 477 shares of the company’s stock, valued at $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total value of $600,862.50. Following the sale, the vice president now owns 477 shares of the company’s stock, valued at approximately $76,429.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares in the company, valued at approximately $4,581,279. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,746 shares of company stock valued at $2,727,971. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently bought and sold shares of CVX. Vanguard Group Inc. boosted its stake in shares of Chevron by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 161,924,375 shares of the oil and gas company’s stock valued at $27,303,688,000 after purchasing an additional 458,080 shares in the last quarter. Berkshire Hathaway Inc boosted its stake in shares of 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 valued at $18,808,081,000 after purchasing an additional 15,845,037 shares in the last quarter. Morgan Stanley boosted its stake in shares of Chevron by 7.0% in the 3rd quarter. Morgan Stanley now owns 34,166,899 shares of the oil and gas company’s stock valued at $5,761,223,000 after purchasing an additional 2,244,995 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 8.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after purchasing an additional 1,999,332 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Chevron in the 4th quarter valued at $2,902,007,000. 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.