Chevron (NYSE:CVX) Trading 0.1% Higher - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report) shares were up 0.1% during mid-day trading on Tuesday . The company traded as high as $142.38 and last traded at $141.72. Approximately 2,171,123 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 7,981,697 shares. The stock had previously closed at $141.62.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $173.00 to $164.00 and set an "overweight" rating for the company in a report on Monday, May 5th. BNP Paribas downgraded shares of Chevron to a "cautious" rating in a report on Tuesday, April 15th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 target price on shares of Chevron in a report on Monday, February 3rd. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and dropped their target price for the company from $176.00 to $158.00 in a report on Tuesday. Finally, Piper Sandler lowered their price target on shares of Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday. Three investment 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 MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $160.24.

Chevron Stock Down 0.6%

The firm has a market capitalization of $246.00 billion, a PE ratio of 14.49, a P/E/G ratio of 1.46 and a beta of 0.83. The firm's 50 day moving average price is $147.20 and its two-hundred day moving average price is $151.87. 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 data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period in the prior year, the firm posted $2.93 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.86%. Chevron's dividend payout ratio (DPR) is 78.17%.

Institutional Trading of Chevron

A number of large investors have recently modified their holdings of the company. TFB Advisors LLC boosted its position in shares of Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock valued at $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. boosted its holdings in shares of Chevron by 1.4% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after buying an additional 66 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Chevron by 0.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock worth $2,207,000 after buying an additional 66 shares during the period. Meridian Financial Partners LLC boosted its holdings in shares of Chevron by 0.5% in the fourth quarter. Meridian Financial Partners LLC now owns 13,416 shares of the oil and gas company's stock worth $1,943,000 after buying an additional 67 shares during the period. Finally, Western Pacific Wealth Management LP boosted its holdings in shares of Chevron by 14.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 517 shares of the oil and gas company's stock worth $75,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

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.