Chevron (NYSE:CVX) Stock Price Down 1.3% - What's Next?

Key Points

• Chevron's stock price fell 1.3% to $155.01 after trading as low as $154.55, with trading volume significantly declining to approximately 1.6 million shares, down 83% from the average daily volume.
• The company reported a quarterly EPS of $2.18, exceeding analysts' estimates of $2.15, but its revenue of $47.61 billion was below expectations of $49.05 billion.
• Chevron's recent dividend payout of $1.71 per share translates to an annualized dividend of $6.84 with a dividend yield of 4.47% and a payout ratio of 78.17%.

Chevron Corporation (NYSE:CVX - Get Free Report) shares dropped 1.3% during mid-day trading on Wednesday . The company traded as low as $154.55 and last traded at $155.01. Approximately 1,635,224 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 9,430,454 shares. The stock had previously closed at $157.03.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. BNP Paribas lowered Chevron to a "cautious" rating in a report on Tuesday, April 15th. Evercore ISI restated an "outperform" rating and issued a $180.00 target price on shares of Chevron in a report on Thursday. Scotiabank reaffirmed a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Redburn Atlantic reaffirmed a "sell" rating and issued a $124.00 price target (down from $156.00) on shares of Chevron in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $163.18.

Chevron Price Performance

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 stock has a market capitalization of $264.24 billion, a price-to-earnings ratio of 17.27, a P/E/G ratio of 2.42 and a beta of 0.83. The company's 50-day simple moving average is $146.57 and its 200 day simple moving average is $148.90.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The business's quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Institutional Investors Weigh In On Chevron

Hedge funds have recently bought and sold shares of the company. 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 valued at $25,000 after acquiring an additional 122 shares during the period. 10Elms LLP bought a new stake in Chevron during the fourth quarter valued at about $29,000. Elequin Capital LP bought a new stake in Chevron during the first quarter valued at about $31,000. Navigoe LLC bought a new stake in shares of Chevron in the fourth quarter valued at about $33,000. Finally, IFS Advisors LLC grew its position in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares in the last quarter. 72.42% of the stock is currently owned by 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.