Chevron (NYSE:CVX) Shares Down 0.2% - Here's What Happened

Chevron Co. (NYSE:CVX - Get Free Report) shares dropped 0.2% during mid-day trading on Tuesday . The company traded as low as $138.57 and last traded at $139.82. Approximately 1,475,346 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 7,908,438 shares. The stock had previously closed at $140.10.

Analysts Set New Price Targets

CVX has been the subject of a number of research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. BNP Paribas lowered Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Truist Financial dropped their price objective on Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. UBS Group cut their price objective on Chevron from $194.00 to $185.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Wells Fargo & Company reduced their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Two 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 company. According to data from MarketBeat, Chevron currently has a consensus rating of "Hold" and a consensus price target of $165.27.

Chevron Stock Up 0.9 %

The stock has a market cap of $241.69 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.46 and a beta of 0.93. The company has a 50-day simple moving average of $150.55 and a two-hundred day simple moving average of $152.70. 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 announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts' consensus estimates 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 period in the prior year, the firm earned $3.45 earnings per share. On average, equities analysts forecast that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.98%. This is an increase from Chevron's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron's dividend payout ratio is presently 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the sale, the vice president now owns 1,057 shares of the company's stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFB Advisors LLC lifted 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 worth $411,000 after buying an additional 66 shares during the last quarter. W.H. Cornerstone Investments Inc. increased its stake in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company's stock worth $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust raised its position 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 valued at $2,207,000 after buying an additional 66 shares during the last quarter. Meridian Financial Partners LLC increased its position in Chevron by 0.5% during 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 purchasing an additional 67 shares in the last quarter. Finally, Western Pacific Wealth Management LP increased its holdings 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 valued at $75,000 after buying an additional 67 shares during the last quarter. Institutional investors and hedge funds 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.