Chevron (NYSE:CVX) Stock Price Down 0.3% – Here’s What Happened

Shares of Chevron Co. (NYSE:CVX) dropped 0.3% during trading on Tuesday . The company traded as low as $150.22 and last traded at $150.49. Approximately 822,660 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 7,660,188 shares. The stock had previously closed at $150.88.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $170.00 price objective on shares of Chevron in a report on Tuesday, October 8th. UBS Group boosted their price objective on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company cut their price objective on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a report on Friday, September 27th. Wolfe Research started coverage on shares of Chevron in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Scotiabank cut their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Chevron presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.07.

Chevron Trading Down 0.3 %

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 stock has a market cap of $277.29 billion, a P/E ratio of 13.84, a PEG ratio of 2.73 and a beta of 1.09. The firm’s 50-day simple moving average is $146.44 and its 200 day simple moving average is $153.45.

Chevron (NYSE:CVX) last posted 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). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The firm had revenue of $51.18 billion during the quarter, compared to the consensus estimate of $48.68 billion. During the same quarter last year, the company posted $3.08 EPS. Chevron’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 10.95 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Trading of Chevron

Institutional investors have recently made changes to their positions in the stock. Anfield Capital Management LLC lifted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 118 shares during the period. Cyrus J. Lawrence LLC lifted its stake in shares of Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 100 shares during the period. Krane Funds Advisors LLC acquired a new stake in Chevron during the third quarter valued at approximately $47,000. Livelsberger Financial Advisory acquired a new stake in Chevron during the third quarter valued at approximately $47,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Chevron during the first quarter valued at approximately $55,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.