Chevron (NYSE:CVX) Trading Up 0.2% – What’s Next?

by · The Markets Daily

Chevron Co. (NYSE:CVX – Get Free Report)’s stock price shot up 0.2% on Thursday . The stock traded as high as $151.18 and last traded at $149.88. 7,635,283 shares traded hands during trading, an increase of 11% from the average session volume of 6,848,742 shares. The stock had previously closed at $149.59.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Bank of America began coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Truist Financial upped their price target on Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Friday, December 6th. UBS Group increased their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Mizuho reduced their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Check Out Our Latest Stock Analysis on Chevron

Chevron Stock Up 0.2 %

The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $269.35 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 2.93 and a beta of 1.12. The stock has a 50 day moving average of $153.66 and a 200 day moving average of $151.09.

Chevron (NYSE:CVX – Get Free Report) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.05 EPS. As a group, analysts expect that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.35%. Chevron’s payout ratio is currently 71.65%.

Insider Activity

In related news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lantz Financial LLC boosted its holdings in shares of Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock valued at $3,650,000 after acquiring an additional 623 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Chevron during the 2nd quarter valued at about $243,000. Angeles Wealth Management LLC boosted its holdings in Chevron by 35.6% during the second quarter. Angeles Wealth Management LLC now owns 7,544 shares of the oil and gas company’s stock worth $1,180,000 after buying an additional 1,982 shares in the last quarter. Vaughan David Investments LLC IL grew its holdings in shares of Chevron by 0.7% in the 2nd quarter. Vaughan David Investments LLC IL now owns 315,237 shares of the oil and gas company’s stock worth $49,309,000 after acquiring an additional 2,207 shares during the last quarter. Finally, Kinsale Capital Group Inc. increased its stake in Chevron by 21.7% in the 2nd quarter. Kinsale Capital Group Inc. now owns 36,718 shares of the oil and gas company’s stock worth $5,743,000 after purchasing an additional 6,554 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

(Get Free Report)

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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