Chevron (NYSE:CVX) Shares Down 1%

Chevron Co. (NYSE:CVX - Get Free Report) shares traded down 1% during mid-day trading on Wednesday . The company traded as low as $160.17 and last traded at $162.02. 2,052,221 shares changed hands during trading, a decline of 75% from the average session volume of 8,269,903 shares. The stock had previously closed at $163.61.

Wall Street Analyst Weigh In

CVX has been the subject of several recent analyst reports. Barclays assumed coverage on Chevron in a report on Wednesday, April 10th. They set an "overweight" rating and a $203.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Chevron from $185.00 to $190.00 and gave the stock an "outperform" rating in a report on Monday, February 5th. Mizuho raised their price target on Chevron from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Monday. Truist Financial upped their price objective on Chevron from $156.00 to $166.00 and gave the stock a "hold" rating in a report on Friday, May 10th. Finally, Raymond James boosted their target price on Chevron from $170.00 to $174.00 and gave the stock an "outperform" rating in a research report on Monday, April 15th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $186.10.

Chevron Stock Down 0.3 %

The company's 50 day simple moving average is $158.95 and its 200-day simple moving average is $151.80. The firm has a market cap of $301.15 billion, a P/E ratio of 15.00, a PEG 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 announced its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The business had revenue of $48.72 billion for the quarter, compared to analysts' expectations of $48.42 billion. During the same period last year, the firm posted $3.55 earnings per share. The business's revenue for the quarter was down 4.1% on a year-over-year basis. Research analysts forecast that Chevron Co. will post 13.57 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, May 16th. Chevron's dividend payout ratio (DPR) is currently 59.98%.

Insider Buying and Selling

In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the stock in a transaction on Friday, May 10th. The stock was 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 owns 27,725 shares in the company, valued at approximately $4,581,279. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Chevron news, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares of the company's stock, valued at approximately $44,184.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of the business's stock in a transaction dated Friday, May 10th. The stock was 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 owns 27,725 shares in the company, valued at $4,581,279. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,796 shares of company stock valued at $2,575,361. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

Hedge funds have recently made changes to their positions in the business. American Capital Advisory LLC raised its stake in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 125 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Chevron during the third quarter valued at approximately $26,000. Bare Financial Services Inc purchased a new position in Chevron during the fourth quarter valued at approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its stake in 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 worth $30,000 after buying an additional 80 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in Chevron in the fourth quarter worth approximately $30,000. 72.42% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.