Chevron (NYSE:CVX) Shares Down 0.9%

Shares of Chevron Co. (NYSE:CVX) were down 0.9% during trading on Tuesday . The company traded as low as $154.95 and last traded at $155.10. Approximately 1,283,998 shares were traded during trading, a decline of 85% from the average daily volume of 8,715,473 shares. The stock had previously closed at $156.47.

Analyst Ratings Changes

Several brokerages have recently weighed in on CVX. Mizuho increased their price objective on shares of Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group upgraded Chevron from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Monday, January 8th. Piper Sandler decreased their price objective on Chevron from $188.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, March 14th. UBS Group reduced their target price on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a research report on Thursday, December 14th. Finally, TD Cowen lowered shares of Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $170.00 to $150.00 in a research report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $180.39.

Chevron Stock Performance

The company has a fifty day moving average price of $151.34 and a two-hundred day moving average price of $152.65. The company has a market capitalization of $290.40 billion, a P/E ratio of 13.76, a PEG ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $3.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.26. Chevron had a net margin of 10.63% and a return on equity of 15.24%. The firm had revenue of $47.18 billion during the quarter, compared to the consensus estimate of $50.93 billion. During the same quarter last year, the firm earned $4.09 earnings per share. The company’s revenue for the quarter was down 16.5% on a year-over-year basis. Equities analysts forecast that Chevron Co. will post 13.04 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 16th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.51. Chevron’s payout ratio is 57.39%.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently made changes to their positions in the stock. HighPoint Advisor Group LLC acquired a new stake in Chevron during the 4th quarter valued at approximately $7,426,000. Fairman Group LLC bought a new stake in shares of Chevron in the 4th quarter valued at $132,000. Livelsberger Financial Advisory acquired a new stake in shares of Chevron during the fourth quarter worth $46,000. Cooksen Wealth LLC bought a new position in Chevron during the fourth quarter worth $40,000. Finally, Ariston Services Group acquired a new position in Chevron in the fourth quarter valued at $277,000. 72.42% of the stock is currently 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.