Chevron (NYSE:CVX) Stock Price Down 2.1% - Time to Sell?

Chevron Corporation (NYSE:CVX - Get Free Report) was down 2.1% during mid-day trading on Monday . The company traded as low as $152.32 and last traded at $152.03. Approximately 2,555,419 shares changed hands during trading, a decline of 69% from the average daily volume of 8,338,358 shares. The stock had previously closed at $155.31.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and lowered their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. TD Cowen decreased their target price on shares of Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a report on Monday, May 5th. Barclays lifted their target price on shares of Chevron from $152.00 to $156.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday. 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 data from MarketBeat, Chevron currently has an average rating of "Hold" and a consensus price target of $161.65.

Chevron Trading Down 2.4%

The firm has a market capitalization of $264.77 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 2.63 and a beta of 0.83. The stock's 50-day simple moving average is $142.62 and its two-hundred day simple moving average is $148.47. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 0.82.

Chevron (NYSE:CVX - Get Free Report) last issued its 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. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. During the same quarter in the prior year, the business earned $2.93 earnings per share. Chevron's revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.51%. Chevron's dividend payout ratio (DPR) is currently 78.17%.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. Eagle Capital Management LLC grew its holdings in Chevron by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock worth $5,011,000 after acquiring an additional 242 shares in the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Chevron by 7.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after acquiring an additional 2,641 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Chevron by 59.5% during the 4th quarter. Proficio Capital Partners LLC now owns 5,851 shares of the oil and gas company's stock worth $847,000 after acquiring an additional 2,182 shares in the last quarter. one8zero8 LLC bought a new position in Chevron during the 4th quarter worth about $1,950,000. Finally, Tidemark LLC grew its holdings in Chevron by 46.7% during the 4th quarter. Tidemark LLC now owns 6,882 shares of the oil and gas company's stock worth $997,000 after acquiring an additional 2,192 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.

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