Chevron (NYSE:CVX) Shares Down 0.8% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report) was down 0.8% on Friday . The company traded as low as $140.70 and last traded at $141.12. Approximately 2,006,370 shares traded hands during trading, a decline of 75% from the average daily volume of 7,992,762 shares. The stock had previously closed at $142.26.

Analyst Ratings Changes

A number of equities analysts have weighed in on CVX shares. Redburn Atlantic reiterated a "sell" rating and set a $124.00 price objective (down previously from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Mizuho reduced their price objective on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday. Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Barclays lowered Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, UBS Group cut their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $160.24.

Chevron Stock Down 0.3%

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 capitalization of $247.80 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The firm's 50-day simple moving average is $146.89 and its 200-day simple moving average is $151.81.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter in the prior year, the company earned $2.93 earnings per share. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is 78.17%.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of the business. Life Planning Partners Inc bought a new stake in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $25,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. Finally, 10Elms LLP purchased a new position in shares of Chevron in the 4th quarter worth about $29,000. 72.42% of the stock is 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.

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