Chevron (NYSE:CVX) Stock Price Down 1.7%

Chevron Co. (NYSE:CVX) shares fell 1.7% on Tuesday . The stock traded as low as $137.19 and last traded at $137.86. 2,429,228 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 7,749,616 shares. The stock had previously closed at $140.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays reduced their price target on shares of Chevron from $203.00 to $185.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a report on Wednesday, July 17th. Wolfe Research began coverage on Chevron in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Scotiabank lowered their target price on shares of 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, Truist Financial decreased their price target on shares of Chevron from $156.00 to $154.00 and set a “hold” rating for the company in a report on Monday, August 5th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $183.82.

Chevron Trading Down 0.3 %

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 has a market capitalization of $252.06 billion, a P/E ratio of 12.68, a PEG ratio of 2.34 and a beta of 1.09. The firm’s 50-day simple moving average is $149.75 and its 200 day simple moving average is $154.92.

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 the consensus estimate of $2.93 by ($0.38). The business had revenue of $51.18 billion for the quarter, compared to analyst estimates of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 earnings per share. Equities research analysts anticipate that Chevron Co. will post 11.86 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Monday, August 19th. Chevron’s payout ratio is 59.98%.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently modified their holdings of CVX. Eagle Capital Management LLC increased its position in shares of Chevron by 0.5% in the first quarter. Eagle Capital Management LLC now owns 34,455 shares of the oil and gas company’s stock worth $5,435,000 after acquiring an additional 163 shares in the last quarter. Lane & Associates LLC purchased a new position in shares of Chevron during the first quarter valued at $345,000. Seven Mile Advisory raised its position in Chevron by 9.8% during the fourth quarter. Seven Mile Advisory now owns 2,766 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 247 shares during the period. KCM Investment Advisors LLC lifted its stake in Chevron by 2.5% in the 1st quarter. KCM Investment Advisors LLC now owns 331,550 shares of the oil and gas company’s stock worth $52,299,000 after acquiring an additional 8,168 shares in the last quarter. Finally, Livelsberger Financial Advisory purchased a new position in Chevron during the 4th quarter valued at about $46,000. 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.