Chevron (NYSE:CVX) Stock Price Down 0.6% – Time to Sell?

Shares of Chevron Co. (NYSE:CVX) were down 0.6% during mid-day trading on Friday . The stock traded as low as $155.74 and last traded at $155.90. Approximately 1,163,995 shares were traded during trading, a decline of 85% from the average daily volume of 7,641,424 shares. The stock had previously closed at $156.77.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Scotiabank reduced their price objective on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Tuesday. Wolfe Research assumed coverage on shares of Chevron in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Barclays boosted their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.93.

Chevron Trading Up 0.4 %

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $147.43 and its two-hundred day moving average price is $152.90. The company has a market capitalization of $287.73 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 3.53 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 8.44% and a return on equity of 13.07%. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.05 earnings per share. Sell-side analysts anticipate that Chevron Co. will post 10.59 earnings per share for the current year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.14%. Chevron’s dividend payout ratio is currently 71.65%.

Hedge Funds Weigh In On Chevron

Institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC raised its position in shares of Chevron by 93.6% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after acquiring an additional 60,750 shares in the last quarter. Prospera Private Wealth LLC boosted its position in shares of Chevron by 404.8% during the third quarter. Prospera Private Wealth LLC now owns 52,012 shares of the oil and gas company’s stock valued at $7,660,000 after purchasing an additional 41,709 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Chevron in the third quarter worth $10,959,000. Banque Cantonale Vaudoise raised its holdings in Chevron by 13.9% in the third quarter. Banque Cantonale Vaudoise now owns 72,017 shares of the oil and gas company’s stock worth $10,606,000 after purchasing an additional 8,772 shares in the last quarter. Finally, SouthState Corp boosted its holdings in shares of Chevron by 3.7% during the 3rd quarter. SouthState Corp now owns 96,180 shares of the oil and gas company’s stock valued at $14,164,000 after buying an additional 3,398 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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.