Chevron (NYSE:CVX) Trading 0.3% Higher – Here’s What Happened

Chevron Co. (NYSE:CVX)’s stock price rose 0.3% during trading on Tuesday . The stock traded as high as $156.03 and last traded at $155.74. Approximately 1,419,818 shares were traded during trading, a decline of 81% from the average daily volume of 7,354,042 shares. The stock had previously closed at $155.34.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CVX shares. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Barclays lowered their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler cut their price objective on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

The firm has a market capitalization of $285.53 billion, a P/E ratio of 16.35, a PEG ratio of 1.43 and a beta of 1.11. 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 price is $151.82 and its 200 day moving average price is $150.85.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the firm earned $3.45 earnings per share. As a group, sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.31%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently made changes to their positions in the company. Life Planning Partners Inc acquired a new stake in shares of Chevron during the fourth quarter worth about $25,000. IMG Wealth Management Inc. acquired a new stake in Chevron during the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new position in Chevron in the third quarter valued at approximately $29,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the third quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth $29,000. Institutional investors and hedge funds 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.