Chevron (NYSE:CVX) Stock Price Down 0.4%

Chevron Co. (NYSE:CVX) shares traded down 0.4% during trading on Wednesday . The company traded as low as $143.51 and last traded at $143.62. 1,355,692 shares traded hands during trading, a decline of 83% from the average session volume of 7,867,902 shares. The stock had previously closed at $144.15.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CVX shares. Wells Fargo & Company raised their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 30th. Barclays reduced their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Wolfe Research started coverage on Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen boosted their target price on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Monday, April 29th. Finally, HSBC upped their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.82.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16. The stock’s 50 day moving average is $154.39 and its two-hundred day moving average is $156.08. The stock has a market capitalization of $266.25 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.42 and a beta of 1.10.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). The company had revenue of $51.18 billion for the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 EPS. On average, equities analysts anticipate that Chevron Co. will post 11.96 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 19th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Monday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the transaction, the vice president now owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron in the fourth quarter valued at $2,902,007,000. Berkshire Hathaway Inc boosted its holdings in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after buying an additional 15,845,037 shares in the last quarter. Capital World Investors grew its position in Chevron by 43.5% during the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after buying an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after buying an additional 4,596,584 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 8.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 26,235,473 shares of the oil and gas company’s stock valued at $3,886,821,000 after acquiring an additional 1,999,332 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.