Chevron (NYSE:CVX) Trading 2.2% Higher

Chevron Co. (NYSE:CVX)’s stock price rose 2.2% during trading on Friday . The stock traded as high as $145.33 and last traded at $145.13. Approximately 1,530,466 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 7,793,944 shares. The stock had previously closed at $141.99.

Analysts Set New Price Targets

A number of equities analysts recently commented on CVX shares. Truist Financial reduced their price objective on Chevron from $156.00 to $154.00 and set a “hold” rating on the stock in a research report on Monday, August 5th. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada cut their target price on Chevron from $190.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, August 5th. Finally, UBS Group reduced their target price on Chevron from $192.00 to $189.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $180.24.

Chevron Trading Up 1.8 %

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 firm has a market cap of $264.44 billion, a PE ratio of 13.35, a P/E/G ratio of 2.68 and a beta of 1.09. The business has a fifty day moving average price of $146.90 and a 200 day moving average price of $154.34.

Chevron (NYSE:CVX) last announced its quarterly 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 company had revenue of $51.18 billion during the quarter, compared to analysts’ expectations of $48.68 billion. Chevron had a net margin of 9.31% and a return on equity of 13.70%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.08 earnings per share. Analysts forecast that Chevron Co. will post 11.02 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were paid a $1.63 dividend. The ex-dividend date was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.51%. Chevron’s dividend payout ratio is presently 59.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CVX. Berkshire Hathaway Inc increased its holdings in shares of Chevron by 14.4% in the 4th quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock valued at $18,808,081,000 after acquiring an additional 15,845,037 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Chevron by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Capital World Investors increased its position in Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the period. Legal & General Group Plc raised its stake in Chevron by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 13,570,971 shares of the oil and gas company’s stock valued at $2,122,772,000 after acquiring an additional 629,644 shares during the last quarter. Finally, Capital International Investors lifted its position in Chevron by 5.9% during the 1st quarter. Capital International Investors now owns 13,418,287 shares of the oil and gas company’s stock worth $2,116,600,000 after acquiring an additional 743,042 shares during the period. Hedge funds and other institutional investors 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.