Chevron (NYSE:CVX) Stock Price Down 0.9% - Time to Sell?
Chevron's stock price fell 0.9% to $135.67, with trading volume down 50% from average levels. Analysts have adjusted target prices, with Barclays lowering it to $171 and Scotiabank to $143. The company reported Q4 earnings of $2.06 per share, missing estimates, and announced a quarterly dividend increase to $1.71. Insider transactions showed a significant sale by VP Jeff B. Gustavson. Institutional ownership stands at 72.42%. Chevron has a market cap of $238.54 billion and a consensus rating of "Moderate Buy" with a target price of $172.20.
Chevron Co. (NYSE:CVX - Get Free Report)'s share price dropped 0.9% during mid-day trading on Wednesday . The stock traded as low as $133.88 and last traded at $135.67. Approximately 3,856,914 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 7,744,953 shares. The stock had previously closed at $136.93.
Analyst Ratings Changes
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Several research firms recently commented on CVX. Barclays cut their target price on shares of Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Scotiabank cut shares of Chevron from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $160.00 to $143.00 in a research note on Friday. Wells Fargo & Company lowered their target price on Chevron from $188.00 to $184.00 and set an "overweight" rating for the company in a research report on Monday, February 3rd. Raymond James reduced their price target on Chevron from $180.00 to $175.00 and set an "outperform" rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler lowered their price objective on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research report on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of "Moderate Buy" and a consensus target price of $172.20.
Get Our Latest Stock Report on CVX
Chevron Stock Up 0.4 %
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The company has a market cap of $238.54 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.46 and a beta of 0.93. The stock's 50-day moving average is $155.70 and its 200-day moving average is $153.87. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business posted $3.45 EPS. On average, analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.
Chevron Increases Dividend
- Is Chevron Stock Primed for Growth After Profit-Boosting News?
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio (DPR) is 70.37%.
Insider Transactions at Chevron
In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Life Planning Partners Inc acquired a new position in Chevron during the 4th quarter valued at about $25,000. IMG Wealth Management Inc. bought a new stake in Chevron during the fourth quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new stake in Chevron in the 4th quarter valued at $29,000. 10Elms LLP bought a new position in Chevron during the 4th quarter valued at $29,000. Finally, Fairway Wealth LLC boosted its holdings in Chevron by 75.9% during the 4th quarter. Fairway Wealth LLC now owns 204 shares of the oil and gas company's stock worth $30,000 after acquiring an additional 88 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.
About Chevron
(Get Free Report)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.
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