Chevron (NYSE:CVX) Stock Price Up 0.5% - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price was up 0.5% during mid-day trading on Tuesday . The stock traded as high as $137.31 and last traded at $136.22. Approximately 2,287,490 shares traded hands during trading, a decline of 71% from the average daily volume of 7,954,147 shares. The stock had previously closed at $135.50.

Analyst Ratings Changes

Several research firms recently weighed in on CVX. Wells Fargo & Company decreased their target price on Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a research note on Monday. DZ Bank downgraded shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday. Truist Financial dropped their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. UBS Group decreased their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, BNP Paribas cut Chevron to a "cautious" rating in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $161.25.

Chevron Price Performance

The stock has a fifty day moving average of $148.49 and a two-hundred day moving average of $152.23. The stock has a market cap of $243.09 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 EPS. On average, equities research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.95%. Chevron's payout ratio is 78.17%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

Institutional investors have recently made changes to their positions in the stock. Life Planning Partners Inc acquired a new position in shares of Chevron in the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in Chevron in the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd raised its holdings in 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 valued at $25,000 after acquiring an additional 122 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Chevron during the 4th quarter worth $29,000. Finally, 10Elms LLP purchased a new stake in shares of Chevron in the fourth quarter valued at $29,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.