Chevron (NYSE:CVX) Trading 0.6% Higher

Chevron Co. (NYSE:CVXGet Free Report) rose 0.6% during trading on Friday . The company traded as high as $157.66 and last traded at $157.53. Approximately 3,374,874 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 7,940,324 shares. The stock had previously closed at $156.64.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVX. Piper Sandler upped their target price on shares of Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Mizuho increased their price target on Chevron from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Finally, TD Cowen boosted their price objective 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. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $186.95.

Check Out Our Latest Stock Analysis on Chevron

Chevron Stock Up 0.1 %

The firm has a 50 day moving average of $159.32 and a two-hundred day moving average of $154.06. The stock has a market capitalization of $289.01 billion, a PE ratio of 14.49, a P/E/G ratio of 2.28 and a beta of 1.12. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVXGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion during the quarter, compared to analysts’ expectations of $48.42 billion. During the same quarter last year, the business posted $3.55 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Chevron Co. will post 13.45 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 17th were given a $1.63 dividend. The ex-dividend date was Thursday, May 16th. This represents a $6.52 annualized dividend and a dividend yield of 4.16%. Chevron’s dividend payout ratio is presently 59.98%.

Insider Buying and Selling

In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $161.00, for a total transaction of $410,389.00. Following the completion of the sale, the director now directly owns 7,647 shares in the company, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Insiders sold 19,546 shares of company stock worth $3,176,223 in the last ninety days. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. NBW Capital LLC purchased a new stake in Chevron in the 1st quarter valued at about $216,000. Keynote Financial Services LLC purchased a new stake in Chevron in the first quarter valued at approximately $828,000. OMC Financial Services LTD purchased a new stake in Chevron in the first quarter valued at approximately $1,153,000. EverSource Wealth Advisors LLC raised its stake in Chevron by 41.5% during the first quarter. EverSource Wealth Advisors LLC now owns 65,228 shares of the oil and gas company’s stock worth $10,519,000 after purchasing an additional 19,124 shares during the period. Finally, Objective Capital Management LLC boosted its holdings in shares of Chevron by 7.6% in the 1st quarter. Objective Capital Management LLC now owns 2,643 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

(Get Free Report)

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.

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