Chevron (NYSE:CVX) Trading Down 0.9% – Time to Sell?

Chevron Co. (NYSE:CVX) shares traded down 0.9% during trading on Friday . The company traded as low as $149.61 and last traded at $149.91. 1,187,698 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 7,686,938 shares. The stock had previously closed at $151.20.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVX. Truist Financial cut their price objective on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Barclays dropped their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group increased their price objective on Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Finally, Scotiabank lowered their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $173.07.

Chevron Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13. The company has a market cap of $277.83 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The company has a 50 day moving average price of $146.07 and a 200-day moving average price of $153.66.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 2nd. The oil and gas company reported $2.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). The business had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 EPS. On average, equities analysts expect that Chevron Co. will post 11.06 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a dividend of $1.63 per share. The ex-dividend date was Monday, August 19th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. Chevron’s payout ratio is presently 59.98%.

Institutional Investors Weigh In On Chevron

Hedge funds have recently modified their holdings of the company. Sterling Financial Group Inc. boosted its position in Chevron by 4.4% during the 1st quarter. Sterling Financial Group Inc. now owns 4,561 shares of the oil and gas company’s stock worth $719,000 after buying an additional 192 shares during the period. Daymark Wealth Partners LLC grew its stake in shares of Chevron by 3.2% in the first quarter. Daymark Wealth Partners LLC now owns 188,146 shares of the oil and gas company’s stock worth $29,678,000 after purchasing an additional 5,815 shares during the last quarter. BTC Capital Management Inc. acquired a new position in Chevron during the 1st quarter worth about $11,079,000. Private Capital Management LLC grew its position in shares of Chevron by 9.6% in the 4th quarter. Private Capital Management LLC now owns 17,999 shares of the oil and gas company’s stock valued at $2,685,000 after buying an additional 1,582 shares during the last quarter. Finally, Midwest Financial Group LLC increased its stake in shares of Chevron by 5.4% in the first quarter. Midwest Financial Group LLC now owns 3,196 shares of the oil and gas company’s stock valued at $504,000 after buying an additional 165 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

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.