Chevron (NYSE:CVX) Trading Down 0.6% - What's Next?

Chevron Co. (NYSE:CVX - Get Free Report) shares dropped 0.6% on Wednesday . The company traded as low as $135.86 and last traded at $136.44. Approximately 2,689,857 shares were traded during trading, a decline of 66% from the average daily volume of 8,018,150 shares. The stock had previously closed at $137.27.

Analyst Ratings Changes

CVX has been the topic of several research analyst reports. Redburn Atlantic reissued a "sell" rating and set a $124.00 target price (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. DZ Bank cut 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. UBS Group dropped their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price target on shares of Chevron from $164.00 to $160.00 and set a "hold" rating on the stock in a research report on Tuesday, February 4th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Stock Down 0.6%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market cap of $238.25 billion, a PE ratio of 14.04, a PEG ratio of 1.46 and a beta of 0.83. The firm has a fifty day simple moving average of $146.04 and a 200 day simple moving average of $151.61.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The business had revenue of $47.61 billion during 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 company's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.93 EPS. Equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Monday, May 19th. Chevron's dividend payout ratio is currently 78.17%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CVX. Regent Peak Wealth Advisors LLC raised its stake in shares of Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company's stock worth $596,000 after purchasing an additional 168 shares in the last quarter. Capital & Planning LLC grew its holdings in Chevron by 15.2% in the 4th quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company's stock valued at $243,000 after buying an additional 222 shares during the last quarter. Client 1ST Advisory Group LLC acquired a new stake in shares of Chevron during the 4th quarter worth approximately $659,000. Annex Advisory Services LLC grew its holdings in shares of Chevron by 19.0% during the 4th quarter. Annex Advisory Services LLC now owns 162,340 shares of the oil and gas company's stock worth $23,513,000 after purchasing an additional 25,885 shares in the last quarter. Finally, Ellsworth Advisors LLC grew its holdings in shares of Chevron by 14.4% during the 4th quarter. Ellsworth Advisors LLC now owns 38,131 shares of the oil and gas company's stock worth $5,523,000 after purchasing an additional 4,807 shares in the last quarter. 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.

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