Chevron (NYSE:CVX) Trading 1% Higher - Here's Why

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price traded up 1% on Thursday . The stock traded as high as $144.60 and last traded at $144.70. 1,286,925 shares were traded during trading, a decline of 84% from the average session volume of 8,231,088 shares. The stock had previously closed at $143.23.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Mizuho cut their target price on Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and cut their price objective for the stock from $176.00 to $158.00 in a report on Tuesday, May 13th. Piper Sandler decreased their price target on Chevron from $173.00 to $162.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. DZ Bank lowered shares of Chevron from a "buy" rating to a "sell" rating and set a $130.00 price objective for the company. in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $165.00 price objective (up previously from $164.00) on shares of Chevron in a research note on Thursday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $160.29.

Chevron Price Performance

The company has a market capitalization of $251.63 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 2.52 and a beta of 0.83. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm's 50-day moving average is $139.95 and its 200-day moving average is $148.45.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion during the quarter, compared to analyst estimates of $49.05 billion. Chevron had a return on equity of 10.73% and a net margin of 7.76%. The company's revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.93 earnings per share. Equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.75%. The ex-dividend date was Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Eagle Capital Management LLC lifted its stake in shares of Chevron by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 34,600 shares of the oil and gas company's stock valued at $5,011,000 after acquiring an additional 242 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in Chevron by 7.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock valued at $5,212,000 after purchasing an additional 2,641 shares during the last quarter. Pinnacle West Asset Management Inc. lifted its position in Chevron by 3.9% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 15,230 shares of the oil and gas company's stock valued at $2,206,000 after purchasing an additional 575 shares during the last quarter. Sprott Inc. purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $432,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in shares of Chevron in the fourth quarter worth approximately $46,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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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