Chevron (NYSE:CVX) Trading Down 0% – What’s Next?

Chevron Co. (NYSE:CVX)’s share price dropped 0% on Wednesday . The stock traded as low as $155.80 and last traded at $156.96. Approximately 2,176,855 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 7,630,670 shares. The stock had previously closed at $157.00.

Analyst Ratings Changes

Several analysts have issued reports on the company. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, November 5th. Truist Financial lifted their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on Chevron from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 price target for the company. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.13.

Chevron Stock Down 0.5 %

The company has a market cap of $276.52 billion, a P/E ratio of 16.83, a P/E/G ratio of 2.98 and a beta of 1.10. 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 company’s 50-day moving average is $155.29 and its two-hundred day moving average is $152.46.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. Chevron’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $3.05 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.24%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction dated Thursday, November 14th. The shares were 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 owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Marietta Wealth Management LLC increased its stake in shares of Chevron by 10.9% during the third quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after buying an additional 3,965 shares during the period. Leo Wealth LLC lifted its position in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after acquiring an additional 1,354 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. RPG Investment Advisory LLC increased its stake in shares of Chevron by 3.4% in the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after acquiring an additional 3,933 shares during the period. Finally, State Street Corp grew its position in Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. 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.