Chevron (NYSE:CVX) Stock Price Down 1.5% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report)'s share price was down 1.5% during trading on Monday . The company traded as low as $137.12 and last traded at $138.28. Approximately 2,364,193 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 8,011,755 shares. The stock had previously closed at $140.39.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CVX shares. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and lowered their price target for the stock from $176.00 to $158.00 in a research report on Tuesday, May 13th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Raymond James lowered their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Finally, Redburn Atlantic restated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $160.24.

Chevron Trading Down 0.7%

The company's 50 day simple moving average is $146.04 and its two-hundred day simple moving average is $151.61. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $238.08 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same quarter last year, the firm earned $2.93 EPS. The business's quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced 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. This represents a $6.84 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Monday, May 19th. Chevron's dividend payout ratio (DPR) is presently 78.17%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after purchasing an additional 392,916 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Norges Bank acquired a new stake in Chevron during the fourth quarter valued at $3,017,750,000. Northern Trust Corp increased its holdings in Chevron by 7.3% in the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock valued at $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Chevron by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after acquiring an additional 410,460 shares during the period. 72.42% of the stock is currently 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.