Chevron (NYSE:CVX) Stock Price Down 0.6% – Time to Sell?

Shares of Chevron Co. (NYSE:CVX) dropped 0.6% during trading on Friday . The company traded as low as $155.74 and last traded at $155.90. Approximately 1,163,995 shares changed hands during trading, a decline of 85% from the average daily volume of 7,641,424 shares. The stock had previously closed at $156.77.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday. Wells Fargo & Company reduced their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research note on Friday, September 27th. Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, UBS Group upped their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Trading Up 0.4 %

The company has a market cap of $287.73 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $147.43 and its 200-day moving average price is $152.90.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.07%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.05 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.59 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.14%. Chevron’s payout ratio is currently 71.65%.

Institutional Investors Weigh In On Chevron

A number of institutional investors and hedge funds have recently made changes to their positions in CVX. Rational Advisors LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Anfield Capital Management LLC lifted its position in Chevron by 118.0% during the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC grew its stake in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after buying an additional 100 shares in the last quarter. Livelsberger Financial Advisory bought a new position in shares of Chevron in the 3rd quarter worth $47,000. Finally, Krane Funds Advisors LLC bought a new position in shares of Chevron in the 3rd quarter worth $47,000. Hedge funds and other institutional investors 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.