Chevron (NYSE:CVX) Trading Down 2.5% - Time to Sell?

Key Points

• Chevron shares fell 2.5% to about $189.84 in mid-day trading, with volume below the stock’s average session level.
• Analyst sentiment remains favorable, with 19 Buy ratings, six Holds and one Sell; the consensus rating is “Moderate Buy” with an average price target of $205.17.
• Chevron beat quarterly EPS expectations ($1.41 versus $1.00) but missed revenue estimates, while its $1.78 quarterly dividend implies a 3.8% yield; the payout ratio is elevated at 123.4%.

Chevron Corporation (NYSE:CVX - Get Free Report)'s stock price was down 2.5% on Monday . The company traded as low as $188.67 and last traded at $189.8420. Approximately 7,363,184 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 11,201,454 shares. The stock had previously closed at $194.79.

Analyst Upgrades and Downgrades

CVX has been the topic of several research reports. Scotiabank upped their price target on shares of Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Sanford C. Bernstein lowered their price objective on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Wells Fargo & Company boosted their target price on shares of Chevron from $204.00 to $222.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Barclays upped their target price on shares of Chevron from $192.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 26th. Finally, TD Cowen increased their price target on shares of Chevron from $197.00 to $200.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Nineteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $205.17.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a market cap of $378.09 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 0.65 and a beta of 0.50. The firm's 50-day moving average price is $182.12 and its 200 day moving average price is $183.97.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion for the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.18 EPS. On average, sell-side analysts anticipate that Chevron Corporation will post 15.6 EPS for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were issued a $1.78 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $7.12 annualized dividend and a yield of 3.8%. Chevron's dividend payout ratio (DPR) is 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total value of $73,416,000.00. Following the completion of the transaction, the director owned 278,045 shares of the company's stock, valued at $53,718,294. The trade was a 57.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

Several large investors have recently modified their holdings of the business. Cornerstone Advisory LLC boosted its holdings in shares of Chevron by 0.9% in the first quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock valued at $1,164,000 after buying an additional 52 shares during the period. Compton Financial Group LLC raised its holdings in shares of Chevron by 1.9% during the first quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after acquiring an additional 56 shares during the period. Quantum Portfolio Management LLC raised its holdings in shares of Chevron by 2.7% during the first quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock worth $435,000 after acquiring an additional 56 shares during the period. Wealthspire Retirement LLC lifted its position in Chevron by 0.9% in the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock valued at $1,351,000 after acquiring an additional 56 shares in the last quarter. Finally, D.B. Root & Company LLC boosted its stake in Chevron by 1.0% in the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock worth $846,000 after purchasing an additional 57 shares during the period. 72.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.

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