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

Chevron Co. (NYSE:CVX)’s stock price shot up 0.3% during trading on Friday . The company traded as high as $157.47 and last traded at $156.44. 1,236,491 shares were traded during mid-day trading, a decline of 83% from the average session volume of 7,396,560 shares. The stock had previously closed at $156.01.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CVX shares. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Scotiabank cut their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group boosted their target price 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. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Price Performance

The company has a market capitalization of $279.66 billion, a price-to-earnings ratio of 17.10, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a fifty day simple moving average of $153.81 and a two-hundred day simple moving average of $151.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.19%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Buying and Selling

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was 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 $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC acquired a new position in Chevron during the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Chevron in the third quarter worth $31,000. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Chevron in the 4th quarter valued at $39,000. 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.