Chevron (NYSE:CVX) Trading Down 1.1% - Time to Sell?

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price was down 1.1% during trading on Monday . The stock traded as low as $146.68 and last traded at $146.77. Approximately 2,094,420 shares changed hands during trading, a decline of 75% from the average daily volume of 8,258,457 shares. The stock had previously closed at $148.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CVX shares. HSBC lowered Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Barclays raised their target price on shares of Chevron from $152.00 to $156.00 and gave the company an "equal weight" rating in a research report on Monday. Wells Fargo & Company reissued an "overweight" rating and set a $165.00 price objective (up from $164.00) on shares of Chevron in a report on Thursday, June 26th. TD Cowen cut their price objective on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a report on Monday, May 5th. Finally, Piper Sandler lifted their price objective on shares of Chevron from $162.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $160.65.

Chevron Trading Up 3.8%

The company has a 50 day simple moving average of $141.58 and a two-hundred day simple moving average of $148.22. The firm has a market cap of $267.27 billion, a PE ratio of 17.49, a P/E/G ratio of 2.50 and a beta of 0.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.82 and a current ratio of 1.08.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.93 EPS. Analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Institutional Investors Weigh In On Chevron

Hedge funds have recently added to or reduced their stakes in the business. IMG Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter worth approximately $25,000. Life Planning Partners Inc purchased a new stake in Chevron in the 4th quarter worth approximately $25,000. Harvest Fund Management Co. Ltd boosted its holdings in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the fourth quarter worth $29,000. Finally, 10Elms LLP purchased a new stake in Chevron during the fourth quarter worth $29,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.