Chevron (NYSE:CVX) Trading 0% Higher

Chevron Co. (NYSE:CVX)’s share price shot up 0% on Tuesday . The stock traded as high as $162.93 and last traded at $162.31. 1,311,400 shares were traded during trading, a decline of 84% from the average session volume of 8,400,518 shares. The stock had previously closed at $162.30.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CVX. HSBC lifted their target price on shares of Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Royal Bank of Canada boosted their price objective on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. DZ Bank lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Tuesday, February 6th. Finally, Truist Financial dropped their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Price Performance

The company has a 50-day moving average price of $157.41 and a 200-day moving average price of $151.48. The firm has a market capitalization of $300.38 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 2.37 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23.

Chevron (NYSE:CVX) last posted 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. The company had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.55 EPS. On average, sell-side analysts predict that Chevron Co. will post 13.53 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.01%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 2,800 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $160.09, for a total value of $448,252.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at approximately $44,184.84. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $163.50, for a total value of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the sale, the vice president now directly owns 276 shares of the company’s stock, valued at approximately $44,184.84. The disclosure for this sale can be found here. Insiders have sold a total of 13,247 shares of company stock valued at $2,154,164 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Chevron

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Chevron during the first quarter worth about $7,990,000. 49 Wealth Management LLC grew its stake in shares of Chevron by 71.2% during the 1st quarter. 49 Wealth Management LLC now owns 2,537 shares of the oil and gas company’s stock worth $404,000 after acquiring an additional 1,055 shares in the last quarter. KCM Investment Advisors LLC raised its holdings in shares of Chevron by 2.5% in 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 during the last quarter. Tectonic Advisors LLC lifted its position in shares of Chevron by 4.7% in the first quarter. Tectonic Advisors LLC now owns 6,558 shares of the oil and gas company’s stock worth $1,034,000 after purchasing an additional 296 shares in the last quarter. Finally, NTV Asset Management LLC grew its position in Chevron by 1.3% in the first quarter. NTV Asset Management LLC now owns 25,405 shares of the oil and gas company’s stock valued at $4,007,000 after purchasing an additional 337 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

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.