Shares of Chevron Co. (NYSE:CVX – Get Free Report) dropped 0.1% during trading on Monday . The company traded as low as $161.99 and last traded at $162.13. Approximately 1,277,648 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 7,622,139 shares. The stock had previously closed at $162.36.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Scotiabank reduced their target price on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Finally, Truist Financial upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.93.
Chevron Stock Performance
The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $288.22 billion, a P/E ratio of 17.82, a P/E/G ratio of 3.58 and a beta of 1.09. The stock’s fifty day moving average price is $151.58 and its two-hundred day moving average price is $152.55.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping 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 analysts’ expectations of $48.86 billion. During the same period in the prior year, the company earned $3.05 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Chevron Co. will post 10.55 earnings per share for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.07%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is 71.65%.
Insider Transactions at Chevron
In other news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 directly owns 4,280 shares in the company, valued at approximately $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.20% of the company’s stock.
Hedge Funds Weigh In On Chevron
Several large investors have recently bought and sold shares of CVX. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter worth $29,000. Legacy Investment Solutions LLC bought a new position in shares of Chevron during the third quarter worth about $29,000. Darwin Wealth Management LLC acquired a new position in shares of Chevron in the third quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, Anfield Capital Management LLC increased its position in Chevron by 118.0% during the 2nd 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 period. 72.42% of the stock is currently owned by institutional investors.
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.