Chevron (NYSE:CVX) Stock Price Down 1.2% - Should You Sell?

Chevron Corporation (NYSE:CVX - Get Free Report) traded down 1.2% on Friday . The stock traded as low as $150.41 and last traded at $149.60. 11,524,129 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 9,002,061 shares. The stock had previously closed at $151.38.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Redburn Atlantic reissued a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. TD Cowen decreased their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 price target (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. Finally, Mizuho decreased their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $161.31.

Chevron Stock Down 1.1%

The business has a 50 day moving average of $144.04 and a 200-day moving average of $148.67. The stock has a market cap of $261.59 billion, a PE ratio of 17.12, a P/E/G ratio of 2.45 and a beta of 0.83. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX - Get Free Report) last announced its 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 return on equity of 10.73% and a net margin of 7.76%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 EPS. The company's revenue was down 2.3% on a year-over-year basis. Equities research analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the business. EWA LLC lifted its stake in shares of Chevron by 10.5% during the second quarter. EWA LLC now owns 1,401 shares of the oil and gas company's stock worth $201,000 after purchasing an additional 133 shares in the last quarter. Access Financial Services Inc. lifted its stake in shares of Chevron by 2.3% in the second quarter. Access Financial Services Inc. now owns 8,985 shares of the oil and gas company's stock worth $1,287,000 after acquiring an additional 200 shares in the last quarter. Philip James Wealth Mangement LLC lifted its stake in shares of Chevron by 41.2% in the second quarter. Philip James Wealth Mangement LLC now owns 51,148 shares of the oil and gas company's stock worth $7,324,000 after acquiring an additional 14,936 shares in the last quarter. Viewpoint Investment Partners Corp lifted its stake in shares of Chevron by 327.4% in the second quarter. Viewpoint Investment Partners Corp now owns 13,248 shares of the oil and gas company's stock worth $1,897,000 after acquiring an additional 10,148 shares in the last quarter. Finally, Tanager Wealth Management LLP lifted its stake in shares of Chevron by 3.6% in the second quarter. Tanager Wealth Management LLP now owns 6,263 shares of the oil and gas company's stock worth $897,000 after acquiring an additional 220 shares in the last quarter. 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.