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

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price fell 0.8% during mid-day trading on Wednesday . The company traded as low as $166.58 and last traded at $167.15. 1,216,394 shares were traded during mid-day trading, a decline of 84% from the average session volume of 7,602,734 shares. The stock had previously closed at $168.51.

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research note on Tuesday, February 4th. UBS Group dropped their price objective on shares of Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler reduced their price target on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

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 $251.95 billion, a PE ratio of 14.72, a P/E/G ratio of 1.46 and a beta of 0.93. The stock's 50-day simple moving average is $157.38 and its 200 day simple moving average is $154.10.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the firm earned $3.45 earnings per share. As a group, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $1.71 per share. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.78%. Chevron's payout ratio is currently 70.37%.

Insider Buying and Selling at Chevron

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

Institutional Trading of Chevron

A number of institutional investors have recently added to or reduced their stakes in the business. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter valued at about $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter worth $25,000. Legacy Investment Solutions LLC bought a new stake in shares of Chevron in the 3rd quarter worth $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron during the 4th quarter valued at about $29,000. Finally, 10Elms LLP acquired a new position in Chevron in the fourth quarter worth approximately $29,000. 72.42% of the stock is owned by hedge funds and other 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.