Chevron (NYSE:CVX) Shares Down 0.3% – Here’s What Happened

Chevron Co. (NYSE:CVX) shares fell 0.3% during mid-day trading on Tuesday . The company traded as low as $137.57 and last traded at $138.03. 1,465,786 shares changed hands during trading, a decline of 82% from the average session volume of 8,006,557 shares. The stock had previously closed at $138.49.

Analyst Ratings Changes

CVX has been the topic of a number of recent analyst reports. Piper Sandler reduced their target price on Chevron from $173.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 13th. BNP Paribas downgraded shares of Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $160.00 to $143.00 in a research report on Friday, April 11th. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research report on Tuesday, May 6th. Finally, Barclays cut Chevron from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $171.00 to $152.00 in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has an average rating of “Hold” and a consensus target price of $160.24.

Chevron Stock Performance

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a 50-day simple moving average of $146.37 and a 200 day simple moving average of $151.71. The company has a market capitalization of $240.53 billion, a PE ratio of 14.13, a P/E/G ratio of 1.46 and a beta of 0.83.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion for the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the firm earned $2.93 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. Equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be given a $1.71 dividend. The ex-dividend date is Monday, May 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.97%. Chevron’s payout ratio is 78.17%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Regent Peak Wealth Advisors LLC increased its stake in Chevron by 4.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after buying an additional 168 shares during the period. Capital & Planning LLC increased its position in shares of Chevron by 15.2% in the fourth quarter. Capital & Planning LLC now owns 1,678 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 222 shares in the last quarter. TruWealth Advisors LLC boosted its stake in Chevron by 1.9% in the 4th quarter. TruWealth Advisors LLC now owns 109,577 shares of the oil and gas company’s stock worth $15,871,000 after purchasing an additional 2,030 shares during the period. Financial Management Professionals Inc. boosted its stake in Chevron by 16.7% in the 4th quarter. Financial Management Professionals Inc. now owns 7,514 shares of the oil and gas company’s stock worth $1,088,000 after purchasing an additional 1,076 shares during the period. Finally, Riversedge Advisors LLC grew its position in Chevron by 3.6% during the 4th quarter. Riversedge Advisors LLC now owns 3,850 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 132 shares in the last quarter. 72.42% of the stock is currently owned by 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.