Chevron (NYSE:CVX) Trading Up 1.3%

Shares of Chevron Co. (NYSE:CVX) traded up 1.3% during trading on Wednesday . The company traded as high as $145.73 and last traded at $145.04. 1,781,125 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 7,866,900 shares. The stock had previously closed at $143.23.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CVX shares. Barclays lowered their price objective on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wolfe Research assumed coverage on Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Sanford C. Bernstein cut Chevron from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Scotiabank cut their target price on Chevron from $195.00 to $180.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Finally, TD Cowen lifted their price target on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $183.82.

Chevron Price Performance

The company has a market cap of $263.66 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of 2.39 and a beta of 1.10. The business has a 50 day moving average of $155.79 and a 200 day moving average of $156.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm 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 business earned $3.08 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Chevron Co. will post 12.45 EPS for the current year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a yield of 4.56%. Chevron’s dividend payout ratio is currently 59.98%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $160.23, for a total transaction of $600,862.50. Following the completion of the sale, the vice president now directly owns 477 shares in the company, valued at approximately $76,429.71. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Friday, May 10th. The stock was sold at an average price of $165.24, for a total value of $421,196.76. Following the completion of the sale, the director now directly owns 27,725 shares of the company’s stock, valued at approximately $4,581,279. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Institutional Trading of Chevron

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coldstream Capital Management Inc. grew its position in shares of Chevron by 6.1% during the 2nd quarter. Coldstream Capital Management Inc. now owns 58,413 shares of the oil and gas company’s stock valued at $9,137,000 after acquiring an additional 3,338 shares during the period. Eubel Brady & Suttman Asset Management Inc. increased its position in Chevron by 28.5% in the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 6,168 shares of the oil and gas company’s stock worth $965,000 after buying an additional 1,367 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Chevron by 0.8% in the second quarter. Gryphon Financial Partners LLC now owns 13,940 shares of the oil and gas company’s stock worth $2,180,000 after buying an additional 108 shares during the period. Redwood Financial Network Corp lifted its position in shares of Chevron by 14.0% during the 2nd quarter. Redwood Financial Network Corp now owns 4,095 shares of the oil and gas company’s stock valued at $641,000 after buying an additional 503 shares in the last quarter. Finally, Van Hulzen Asset Management LLC grew its stake in shares of Chevron by 0.3% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 25,495 shares of the oil and gas company’s stock valued at $3,988,000 after acquiring an additional 85 shares during the period. 72.42% of the stock is owned by hedge funds and other 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.