Chevron (NYSE:CVX) Trading Up 1.9%

Chevron Co. (NYSE:CVX) was up 1.9% during trading on Thursday . The stock traded as high as $146.67 and last traded at $146.65. Approximately 1,273,278 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 7,723,154 shares. The stock had previously closed at $143.96.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. UBS Group cut their price objective on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada dropped their price target on shares of Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, August 5th. Sanford C. Bernstein downgraded shares of Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Barclays dropped their target price on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Scotiabank decreased their price target on Chevron from $195.00 to $180.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.41.

Chevron Trading Up 0.5 %

The firm has a market cap of $268.43 billion, a P/E ratio of 13.40, a P/E/G ratio of 2.48 and a beta of 1.09. The stock has a 50 day simple moving average of $148.06 and a 200-day simple moving average of $154.45. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter in the prior year, the firm posted $3.08 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 11.48 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.48%. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Investors Weigh In On Chevron

Several large investors have recently added to or reduced their stakes in the stock. Eagle Capital Management LLC raised its holdings in Chevron by 0.5% during the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock valued at $5,435,000 after buying an additional 163 shares during the period. Lane & Associates LLC purchased a new stake in shares of Chevron in the first quarter valued at $345,000. KCM Investment Advisors LLC lifted its holdings in shares of Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares during the last quarter. Livelsberger Financial Advisory purchased a new position in shares of Chevron during the 4th quarter worth about $46,000. Finally, Hosking Partners LLP bought a new position in Chevron during the 1st quarter valued at about $4,924,000. 72.42% of the stock is 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.