Chevron (NYSE:CVX) Stock Price Down 1% – Should You Sell?

Chevron Co. (NYSE:CVX) shares dropped 1% during mid-day trading on Monday . The stock traded as low as $160.16 and last traded at $160.23. Approximately 1,385,059 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 7,623,108 shares. The stock had previously closed at $161.93.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays increased their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Truist Financial increased their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $175.56.

Chevron Stock Down 0.2 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $290.45 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 3.58 and a beta of 1.09. The business’s 50-day simple moving average is $153.36 and its 200-day simple moving average is $152.46.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. The business had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. As a group, equities research analysts anticipate that Chevron Co. will post 10.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid 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 4.03%. Chevron’s payout ratio is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fragasso Financial Advisors Inc grew its stake in Chevron by 10.2% in the 2nd quarter. Fragasso Financial Advisors Inc now owns 1,554 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 144 shares during the period. First Bank & Trust grew its stake in Chevron by 9.0% in the 2nd quarter. First Bank & Trust now owns 16,962 shares of the oil and gas company’s stock valued at $2,653,000 after acquiring an additional 1,403 shares during the period. Sage Capital Advisors llc grew its stake in Chevron by 4.5% in the 2nd quarter. Sage Capital Advisors llc now owns 40,548 shares of the oil and gas company’s stock valued at $6,342,000 after acquiring an additional 1,749 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Chevron by 20.0% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 26,486 shares of the oil and gas company’s stock valued at $4,143,000 after acquiring an additional 4,407 shares during the period. Finally, Park Avenue Securities LLC grew its stake in Chevron by 1.4% in the 2nd quarter. Park Avenue Securities LLC now owns 82,638 shares of the oil and gas company’s stock valued at $12,926,000 after acquiring an additional 1,138 shares during the period. 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.