Chevron (NYSE:CVX) Trading Up 1.5% – Here’s Why

Chevron Co. (NYSE:CVX)’s share price shot up 1.5% during trading on Monday . The company traded as high as $155.29 and last traded at $154.93. 1,233,307 shares changed hands during trading, a decline of 84% from the average session volume of 7,525,175 shares. The stock had previously closed at $152.62.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Truist Financial lowered their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Finally, Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 1.6 %

The stock has a fifty day moving average price of $151.99 and a two-hundred day moving average price of $150.81. The firm has a market capitalization of $278.39 billion, a P/E ratio of 15.94, a P/E/G ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same quarter last year, the firm earned $3.45 EPS. Research analysts forecast that Chevron Co. will post 10.84 EPS for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.42%. This is a boost from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Buying and Selling

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in Chevron during the 3rd quarter valued at $182,000. Wedge Capital Management L L P NC raised its position in Chevron by 4.3% during the third quarter. Wedge Capital Management L L P NC now owns 2,887 shares of the oil and gas company’s stock valued at $425,000 after buying an additional 120 shares during the period. CX Institutional lifted its stake in Chevron by 97.0% in the 3rd quarter. CX Institutional now owns 46,181 shares of the oil and gas company’s stock worth $6,801,000 after acquiring an additional 22,735 shares in the last quarter. Wesbanco Bank Inc. boosted its position in Chevron by 1.8% during the 3rd quarter. Wesbanco Bank Inc. now owns 228,634 shares of the oil and gas company’s stock worth $33,671,000 after acquiring an additional 4,004 shares during the period. Finally, Iams Wealth Management LLC grew its stake in Chevron by 10.5% during the 3rd quarter. Iams Wealth Management LLC now owns 13,294 shares of the oil and gas company’s stock valued at $1,958,000 after acquiring an additional 1,258 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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.