Chevron (NYSE:CVX) Shares Down 0.5% – Should You Sell?

Chevron Co. (NYSE:CVX) was down 0.5% during trading on Tuesday . The stock traded as low as $156.08 and last traded at $156.39. Approximately 1,568,206 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 7,439,311 shares. The stock had previously closed at $157.23.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CVX. Piper Sandler decreased 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. Truist Financial raised their target price on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Tuesday, November 5th. Bank of America initiated coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Finally, UBS Group raised their price objective 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 research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Up 0.3 %

The firm’s fifty day moving average price is $153.56 and its 200-day moving average price is $151.16. The company has a market capitalization of $280.68 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 1.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last posted 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. 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 13.15% and a net margin of 8.44%. Chevron’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.05 earnings per share. Sell-side analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.17%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at $25,000. Rational Advisors LLC bought a new position in shares of Chevron in the third quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter worth $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Chevron in the third quarter worth $31,000. 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.