Chevron (NYSE:CVX) Stock Price Up 0.9% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report) shares traded up 0.9% during trading on Thursday . The stock traded as high as $137.94 and last traded at $137.29. 2,880,516 shares were traded during mid-day trading, a decline of 64% from the average session volume of 7,939,649 shares. The stock had previously closed at $136.06.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Scotiabank lowered Chevron from a "sector outperform" rating to a "sector perform" rating and cut their price target for the stock from $160.00 to $143.00 in a report on Friday, April 11th. Redburn Atlantic reiterated a "sell" rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Tuesday, February 4th. UBS Group lowered their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Raymond James reduced their price objective on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $165.27.

Chevron Trading Up 1.7 %

The firm has a fifty day moving average price of $149.76 and a 200-day moving average price of $152.56. The company has a market capitalization of $243.90 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.94%. Chevron's dividend payout ratio is currently 70.37%.

Insider Transactions at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated 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 completion of the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVX. TFB Advisors LLC lifted its holdings in Chevron by 2.4% during the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company's stock worth $411,000 after purchasing an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. increased its stake in 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 valued at $677,000 after acquiring an additional 66 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Chevron by 0.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company's stock valued at $2,207,000 after purchasing an additional 66 shares in the last quarter. Meridian Financial Partners LLC lifted its position in Chevron by 0.5% in the 4th 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 last quarter. Finally, Western Pacific Wealth Management LP boosted its stake in 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 in the last quarter. 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.