Chevron (NYSE:CVX) Trading Down 4.1% Following Weak Earnings

Shares of Chevron Co. (NYSE:CVX) were down 4.1% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $148.65 and last traded at $149.98. Approximately 5,537,765 shares were traded during trading, a decline of 25% from the average daily volume of 7,424,063 shares. The stock had previously closed at $156.32.

The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same quarter in the previous year, the business earned $3.45 EPS.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Wells Fargo & Company boosted their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. UBS Group upped their price target on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Several institutional investors have recently added to or reduced their stakes in the stock. Plan Group Financial LLC lifted its position in shares of Chevron by 8.8% during the fourth quarter. Plan Group Financial LLC now owns 9,280 shares of the oil and gas company’s stock worth $1,344,000 after purchasing an additional 750 shares during the last quarter. Allied Investment Advisors LLC lifted its holdings in Chevron by 2.1% during the 4th quarter. Allied Investment Advisors LLC now owns 76,107 shares of the oil and gas company’s stock worth $11,023,000 after buying an additional 1,571 shares during the last quarter. Northcape Wealth Management LLC lifted its holdings in Chevron by 30.5% during the 4th quarter. Northcape Wealth Management LLC now owns 3,031 shares of the oil and gas company’s stock worth $439,000 after buying an additional 709 shares during the last quarter. Atlas Legacy Advisors LLC bought a new position in Chevron during the fourth quarter worth $571,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Chevron during the fourth quarter worth $1,549,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 4.5 %

The stock has a market cap of $268.14 billion, a P/E ratio of 16.40, a PEG ratio of 1.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock’s fifty day simple moving average is $153.46 and its 200-day simple moving average is $151.20.

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.