Chevron (NYSE:CVX) Trading Down 0% – What’s Next?

Chevron Co. (NYSE:CVX) shares dropped 0% on Wednesday . The stock traded as low as $155.80 and last traded at $156.96. Approximately 2,176,855 shares traded hands during trading, a decline of 71% from the average daily volume of 7,630,670 shares. The stock had previously closed at $157.00.

Analyst Ratings Changes

Several analysts have commented on the stock. Truist Financial boosted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 6th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group boosted their price target on shares of Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.

Chevron Stock Down 0.2 %

The stock has a market cap of $281.48 billion, a P/E ratio of 17.25, a P/E/G ratio of 3.47 and a beta of 1.10. The company’s 50 day moving average price is $155.11 and its two-hundred day moving average price is $152.41. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the company earned $3.05 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts expect that Chevron Co. will post 10.54 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.16%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Activity at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Large investors have recently bought and sold shares of the company. Marietta Wealth Management LLC grew its position in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares during the period. Leo Wealth LLC boosted its stake in shares of Chevron by 19.6% in the third quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after buying an additional 1,354 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after acquiring an additional 3,203,899 shares during the period. RPG Investment Advisory LLC raised its position in Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock valued at $17,844,000 after acquiring an additional 3,933 shares in the last quarter. Finally, State Street Corp lifted its holdings in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares during the period. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.