Chevron (NYSE:CVX) Trading Down 1.1% – What’s Next?

Chevron Co. (NYSE:CVX)’s share price was down 1.1% on Monday . The stock traded as low as $151.67 and last traded at $152.16. Approximately 2,088,103 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 7,648,316 shares. The stock had previously closed at $153.87.

Analysts Set New Price Targets

CVX has been the subject of a number of research analyst reports. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho decreased their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays lifted their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and a consensus target price of $177.13.

Chevron Price Performance

The stock’s 50 day moving average price is $155.30 and its two-hundred day moving average price is $152.19. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The firm has a market capitalization of $258.92 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 2.93 and a beta of 1.10.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion for 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%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $3.05 earnings per share. On average, equities research analysts anticipate that Chevron Co. will post 10.5 EPS for the current year.

Chevron Announces Dividend

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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company’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 completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at about $29,000. Legacy Investment Solutions LLC acquired a new position in shares of Chevron in the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron in the 3rd quarter valued at $31,000. Finally, Anfield Capital Management LLC grew its position in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 118 shares during the period. 72.42% of the stock is currently owned by institutional investors.

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.