Chevron (NYSE:CVX) Shares Down 0.4% – Time to Sell?

Chevron Co. (NYSE:CVX)’s stock price was down 0.4% during trading on Thursday . The stock traded as low as $156.79 and last traded at $157.02. Approximately 1,433,939 shares traded hands during trading, a decline of 81% from the average daily volume of 7,640,351 shares. The stock had previously closed at $157.72.

Wall Street Analyst Weigh In

Several brokerages recently commented on CVX. Truist Financial boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday. Scotiabank cut their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho dropped their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday. Finally, Wells Fargo & Company lowered their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Down 0.4 %

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $287.21 billion, a PE ratio of 17.25, a PEG ratio of 3.43 and a beta of 1.09. The business’s 50-day moving average is $147.43 and its two-hundred day moving average is $152.90.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. Chevron had a return on equity of 13.07% and a net margin of 8.44%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 EPS. On average, analysts anticipate that Chevron Co. will post 10.65 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently modified their holdings of the business. Montz Harcus Wealth Management LLC raised its holdings 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 during the last quarter. Hubbell Strickland Wealth Management LLC raised its stake in Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock valued at $1,485,000 after acquiring an additional 64 shares during the last quarter. Tacita Capital Inc lifted its position in Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares during the period. Cyndeo Wealth Partners LLC grew its stake in shares of Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the last quarter. Finally, S.A. Mason LLC increased its holdings in shares of Chevron by 0.7% in the third quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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.