Chevron (NYSE:CVX) Shares Up 0.4%

Chevron Co. (NYSE:CVX)’s share price shot up 0.4% during mid-day trading on Monday . The company traded as high as $143.16 and last traded at $141.17. 1,239,430 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 7,738,618 shares. The stock had previously closed at $140.61.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVX shares. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday. Truist Financial dropped their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Scotiabank reduced their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Sanford C. Bernstein lowered shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.41.

Chevron Price Performance

The firm has a fifty day moving average price of $148.69 and a two-hundred day moving average price of $154.61. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $263.29 billion, a P/E ratio of 13.21, a P/E/G ratio of 2.41 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the business posted $3.08 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts expect that Chevron Co. will post 11.57 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Institutional Investors Weigh In On Chevron

Institutional investors have recently modified their holdings of the business. Verity & Verity LLC boosted its holdings in shares of Chevron by 1.3% during the 2nd quarter. Verity & Verity LLC now owns 164,657 shares of the oil and gas company’s stock valued at $25,756,000 after acquiring an additional 2,176 shares during the last quarter. Heritage Wealth Management Inc. purchased a new stake in Chevron in the second quarter worth approximately $4,007,000. Lazari Capital Management Inc. grew its position in Chevron by 23.0% in the 2nd quarter. Lazari Capital Management Inc. now owns 4,067 shares of the oil and gas company’s stock worth $636,000 after purchasing an additional 761 shares during the period. Sanctuary Advisors LLC purchased a new stake in Chevron during the 2nd quarter valued at $64,869,000. Finally, Creekside Partners bought a new position in shares of Chevron during the 2nd quarter valued at $1,391,000. 72.42% of the stock is owned by hedge funds and other 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.