Chevron (NYSE:CVX) Trading 0.2% Higher

Chevron Co. (NYSE:CVX - Get Free Report) shares were up 0.2% during mid-day trading on Thursday . The stock traded as high as $162.00 and last traded at $161.74. Approximately 1,238,844 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,255,591 shares. The stock had previously closed at $161.42.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CVX shares. Mizuho boosted their price target on Chevron from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Monday. Wells Fargo & Company lifted their price objective on Chevron from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Tuesday, April 30th. Royal Bank of Canada lifted their price objective on Chevron from $185.00 to $190.00 and gave the company an "outperform" rating in a report on Monday, February 5th. Scotiabank raised Chevron from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Finally, Truist Financial lifted their price objective on Chevron from $156.00 to $166.00 and gave the company a "hold" rating in a report on Friday, May 10th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Chevron presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.10.

Chevron Price Performance

The business has a 50-day simple moving average of $159.47 and a 200 day simple moving average of $151.95. The stock has a market cap of $297.53 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, beating analysts' consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm had revenue of $48.72 billion for the quarter, compared to analyst estimates of $48.42 billion. During the same quarter in the previous year, the company posted $3.55 EPS. The business's revenue was down 4.1% on a year-over-year basis. On average, analysts forecast that Chevron Co. will post 13.57 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.05%. Chevron's dividend payout ratio is currently 59.98%.

Insider Buying and Selling

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $165.24, for a total transaction of $421,196.76. Following the completion of the sale, the director now owns 27,725 shares of the company's stock, valued at $4,581,279. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the firm's stock in a transaction that occurred 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 sale, the vice president now owns 276 shares of the company's stock, valued at $44,184.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the firm's stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company's stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. Insiders sold 15,796 shares of company stock valued at $2,575,361 over the last 90 days. Company insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently added to or reduced their stakes in CVX. American Capital Advisory LLC lifted its holdings in shares of Chevron by 403.2% in the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Chevron in the third quarter valued at approximately $26,000. Bare Financial Services Inc bought a new position in shares of Chevron in the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV lifted its holdings in shares of Chevron by 80.0% in the third quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company's stock valued at $30,000 after purchasing an additional 80 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 72.42% of the company's stock.

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.