Chevron (NYSE:CVX) Trading Up 1.9%

Chevron Co. (NYSE:CVX - Get Free Report) rose 1.9% on Monday . The company traded as high as $163.64 and last traded at $163.27. Approximately 2,622,460 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 8,414,478 shares. The stock had previously closed at $160.25.

Analyst Ratings Changes

CVX has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of Chevron from $180.00 to $204.00 and gave the company an "overweight" rating in a report on Thursday, April 18th. Scotiabank raised shares of Chevron from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Wells Fargo & Company upped their price target on shares of Chevron from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Tuesday, April 30th. Barclays started coverage on shares of Chevron in a report on Wednesday, April 10th. They issued an "overweight" rating and a $203.00 price target for the company. Finally, UBS Group upped their price objective on shares of Chevron from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Tuesday, April 9th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $185.35.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The firm has a fifty day simple moving average of $157.26 and a 200 day simple moving average of $151.53. The company has a market cap of $301.43 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX - Get Free Report) last issued its earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion during the quarter, compared to analysts' expectations of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. Chevron's quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $3.55 earnings per share. On average, sell-side analysts expect that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron's dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In related news, VP Alana K. Knowles sold 2,800 shares of the firm's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the transaction, the vice president now directly owns 276 shares of the company's stock, valued at $44,184.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. Norges Bank acquired a new stake in Chevron in the fourth quarter worth about $2,902,007,000. Berkshire Hathaway Inc increased its position in Chevron by 14.4% in the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company's stock worth $18,808,081,000 after purchasing an additional 15,845,037 shares during the period. Capital World Investors increased its position in Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company's stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its position in Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company's stock worth $686,554,000 after purchasing an additional 4,596,584 shares during the period. Finally, International Assets Investment Management LLC increased its position in Chevron by 15,548.2% in the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company's stock worth $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.

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