Chevron (NYSE:CVX) Trading Down 1.4% – What’s Next?

Shares of Chevron Co. (NYSE:CVX) were down 1.4% during mid-day trading on Tuesday . The stock traded as low as $148.24 and last traded at $149.62. Approximately 1,864,801 shares were traded during trading, a decline of 76% from the average daily volume of 7,717,775 shares. The stock had previously closed at $151.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CVX shares. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and cut their target price for the company from $183.00 to $167.00 in a research note on Wednesday, July 17th. Mizuho cut their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, Bank of America initiated coverage on Chevron in a research note on Thursday. They set a “buy” rating and a $168.00 target price on the stock. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.81.

Chevron Trading Up 1.7 %

The stock has a fifty day moving average of $145.82 and a 200 day moving average of $153.78. The company has a market capitalization of $278.64 billion, a P/E ratio of 13.91, a PEG ratio of 2.72 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.85 and a current ratio of 1.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. During the same quarter in the previous year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 11.09 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.31%. Chevron’s payout ratio is presently 59.98%.

Institutional Investors Weigh In On Chevron

Institutional investors have recently bought and sold shares of the business. Eagle Capital Management LLC increased its stake in Chevron by 0.5% in the 1st quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after buying an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron during the first quarter valued at about $345,000. KCM Investment Advisors LLC grew its position in shares of Chevron by 2.5% during the first quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock valued at $52,299,000 after purchasing an additional 8,168 shares in the last quarter. Hosking Partners LLP purchased a new position in shares of Chevron during the first quarter valued at about $4,924,000. Finally, Garner Asset Management Corp grew its position in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock valued at $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.