Chevron (NYSE:CVX) Trading 1.9% Higher - Here's Why

Chevron Co. (NYSE:CVX - Get Free Report)'s stock price was up 1.9% during mid-day trading on Tuesday . The company traded as high as $153.12 and last traded at $152.21. Approximately 2,477,742 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 7,748,799 shares. The stock had previously closed at $149.34.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CVX shares. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a report on Monday. Bank of America started coverage on Chevron in a research report on Thursday, October 17th. They issued a "buy" rating and a $168.00 price target on the stock. Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $175.00 target price on shares of Chevron in a research report on Monday. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.13.

Chevron Stock Up 0.4 %

The firm has a 50 day moving average price of $152.40 and a two-hundred day moving average price of $150.91. 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 $274.13 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.29 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm posted $3.45 EPS. As a group, sell-side analysts expect that Chevron Co. will post 11.45 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This is a boost from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 annualized dividend and a dividend yield of 4.48%. Chevron's dividend payout ratio (DPR) is presently 67.08%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC bought a new position in shares of Chevron in the third quarter valued at $29,000. Rational Advisors LLC acquired a new stake in Chevron during the 3rd quarter valued at $29,000. Fairway Wealth LLC raised its stake in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 88 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Chevron during the 3rd quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Chevron during the 3rd quarter valued at $31,000. Institutional investors 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.