Chevron (NYSE:CVX) Stock Price Down 0.3% - Time to Sell?

Shares of Chevron Co. (NYSE:CVX - Get Free Report) dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $137.57 and last traded at $138.03. Approximately 1,465,786 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 8,006,557 shares. The stock had previously closed at $138.49.

Analyst Upgrades and Downgrades

CVX has been the subject of several analyst reports. Hsbc Global Res lowered shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. Mizuho reduced their price objective on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Barclays lowered shares of Chevron from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Finally, UBS Group dropped their target price 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. Three 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's stock. According to MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $160.24.

Chevron Stock Performance

The firm has a market cap of $236.34 billion, a P/E ratio of 13.92, a PEG ratio of 1.46 and a beta of 0.83. The stock's 50 day moving average is $145.15 and its two-hundred day moving average is $151.37. 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 posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. As a group, equities analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be paid a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. Chevron's payout ratio is currently 78.17%.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Chevron by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company's stock worth $5,247,142,000 after buying an additional 392,916 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after buying an additional 1,574,464 shares in the last quarter. Norges Bank acquired a new stake in shares of Chevron during the fourth quarter worth approximately $3,017,750,000. Northern Trust Corp increased its holdings in shares of Chevron by 7.3% during the fourth quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company's stock worth $2,965,135,000 after buying an additional 1,394,091 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Chevron by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 19,892,848 shares of the oil and gas company's stock worth $2,881,280,000 after buying an additional 410,460 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.