Chevron (NYSE:CVX) Shares Up 0.4%

Shares of Chevron Co. (NYSE:CVX) rose 0.4% during mid-day trading on Thursday . The company traded as high as $138.60 and last traded at $138.39. Approximately 1,377,332 shares were traded during trading, a decline of 82% from the average daily volume of 7,756,351 shares. The stock had previously closed at $137.88.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wolfe Research initiated coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays lowered their target price on Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Royal Bank of Canada cut their price target on Chevron from $190.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, August 5th. Scotiabank lowered their price objective on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 17th. Seven research 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 an average price target of $183.82.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.16 and a quick ratio of 0.85. The stock has a 50-day moving average price of $149.12 and a 200 day moving average price of $154.72. The company has a market cap of $257.16 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share 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 firm had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. During the same period in the prior year, the company earned $3.08 earnings per share. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts anticipate that Chevron Co. will post 11.63 EPS for the current fiscal year.

Chevron Announces Dividend

The firm 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. This represents a $6.52 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date was Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Institutional Investors Weigh In On Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Pacifica Partners Inc. boosted its position in Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 63 shares during the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 63 shares during the last quarter. Montz Harcus Wealth Management LLC grew its stake in shares of Chevron by 2.2% in the second quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC increased its holdings in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after buying an additional 64 shares during the last quarter. Finally, Marks Group Wealth Management Inc raised its position in Chevron by 3.1% during the first quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock worth $339,000 after acquiring an additional 65 shares in the last quarter. 72.42% of the stock is 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.