Chevron Co. (NYSE:CVX) Short Interest Update

Chevron Co. (NYSE:CVX) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 57,130,000 shares, a growth of 9.6% from the August 31st total of 52,130,000 shares. Based on an average daily volume of 7,340,000 shares, the days-to-cover ratio is currently 7.8 days. Approximately 3.1% of the shares of the stock are short sold.

Chevron Trading Up 1.7 %

CVX stock traded up $2.46 during midday trading on Tuesday, hitting $149.73. 9,482,900 shares of the company’s stock were exchanged, compared to its average volume of 8,060,685. The business has a 50-day simple moving average of $146.34 and a two-hundred day simple moving average of $154.21. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $273.84 billion, a PE ratio of 13.77, a P/E/G ratio of 2.64 and a beta of 1.09. Chevron has a 1-year low of $135.37 and a 1-year high of $170.17.

Chevron (NYSE:CVX) last posted its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $48.68 billion. During the same period last year, the business earned $3.08 EPS. Chevron’s revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts predict that Chevron will post 11.02 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial reduced their target price on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a report on Monday. Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. UBS Group reduced their target price on Chevron from $192.00 to $189.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gilbert & Cook Inc. lifted its holdings in Chevron by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 10,312 shares of the oil and gas company’s stock worth $1,538,000 after buying an additional 369 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in Chevron by 1.0% during the 4th quarter. Aveo Capital Partners LLC now owns 8,617 shares of the oil and gas company’s stock worth $1,285,000 after buying an additional 82 shares during the last quarter. Gryphon Financial Partners LLC lifted its holdings in Chevron by 55.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 11,404 shares of the oil and gas company’s stock worth $1,648,000 after buying an additional 4,047 shares during the last quarter. J. W. Coons Advisors LLC increased its position in shares of Chevron by 1.4% during the fourth quarter. J. W. Coons Advisors LLC now owns 7,097 shares of the oil and gas company’s stock worth $1,059,000 after purchasing an additional 100 shares in the last quarter. Finally, Shepherd Financial Partners LLC increased its position in shares of Chevron by 3.9% during the fourth quarter. Shepherd Financial Partners LLC now owns 2,850 shares of the oil and gas company’s stock worth $425,000 after purchasing an additional 107 shares in the last quarter. 72.42% of the stock is currently 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.