Chevron (NYSE:CVX) Shares Down 2% – Should You Sell?

by · The Markets Daily

Chevron Co. (NYSE:CVX – Get Free Report) fell 2% during trading on Tuesday . The stock traded as low as $153.92 and last traded at $154.35. 2,118,027 shares were traded during mid-day trading, a decline of 72% from the average session volume of 7,439,323 shares. The stock had previously closed at $157.57.

Analysts Set New Price Targets

CVX has been the subject of several analyst reports. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Raymond James dropped their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Barclays reduced their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Four 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 company presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Check Out Our Latest Stock Report on Chevron

Chevron Stock Performance

The firm has a market cap of $271.02 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.46 and a beta of 1.08. 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 business has a fifty day simple moving average of $154.37 and a 200-day simple moving average of $151.86.

Chevron (NYSE:CVX – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter in the prior year, the business earned $3.45 earnings per share. On average, sell-side analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.44%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Transactions at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of Chevron stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

Several institutional investors have recently bought and sold shares of CVX. Anchor Pointe Wealth Management LLC purchased a new stake in shares of Chevron during the fourth quarter valued at approximately $334,000. SpringVest Wealth Management LLC bought a new position in Chevron in the 4th quarter valued at approximately $270,000. Old North State Trust LLC boosted its stake in Chevron by 4.0% during the 4th quarter. Old North State Trust LLC now owns 2,652 shares of the oil and gas company’s stock valued at $384,000 after purchasing an additional 103 shares during the last quarter. Copia Wealth Management bought a new stake in shares of Chevron in the 4th quarter worth $140,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Chevron in the fourth quarter worth $260,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

About Chevron

(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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