Chevron (NYSE:CVX) Trading Down 1.7%

Shares of Chevron Co. (NYSE:CVX) dropped 1.7% during trading on Tuesday . The stock traded as low as $137.19 and last traded at $137.86. Approximately 2,429,228 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 7,749,616 shares. The stock had previously closed at $140.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Scotiabank reduced their price objective on shares of Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Wolfe Research initiated coverage on Chevron in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays cut their price target 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. Royal Bank of Canada dropped their price objective on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, Truist Financial decreased their target price on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

The company’s 50 day simple moving average is $149.75 and its 200 day simple moving average is $154.92. 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 $252.06 billion, a PE ratio of 12.68, a PEG ratio of 2.34 and a beta of 1.09.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same period in the prior year, the firm earned $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts anticipate that Chevron Co. will post 11.86 earnings per share for the current 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 given a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a dividend yield of 4.73%. Chevron’s dividend payout ratio is presently 59.98%.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently added to or reduced their stakes in CVX. American Capital Advisory LLC boosted its holdings in Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Frank Rimerman Advisors LLC purchased a new position in Chevron in the 4th quarter valued at about $30,000. Anfield Capital Management LLC grew its stake in shares of Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares in the last quarter. Cyrus J. Lawrence LLC increased its position in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the last quarter. Finally, Cooksen Wealth LLC purchased a new position in Chevron in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.