Chevron (NYSE:CVX) Trading Down 1.6% – Should You Sell?

Chevron Co. (NYSE:CVX) shares traded down 1.6% during trading on Tuesday . The stock traded as low as $158.42 and last traded at $158.97. 2,461,822 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 7,389,133 shares. The stock had previously closed at $161.47.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada boosted their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays boosted their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They issued a “buy” rating and a $168.00 price objective on the stock. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Truist Financial raised their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Price Performance

The stock has a market cap of $285.79 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.46 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average price is $154.03 and its two-hundred day moving average price is $151.04.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period in the prior year, the firm posted $3.05 EPS. Chevron’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Chevron Co. will post 10.21 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date was Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.10%. Chevron’s payout ratio is presently 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’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 transaction of $26,357,398.00. Following the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently modified their holdings of the stock. Juncture Wealth Strategies LLC grew its position in Chevron by 55.6% during the 4th quarter. Juncture Wealth Strategies LLC now owns 3,895 shares of the oil and gas company’s stock worth $564,000 after purchasing an additional 1,392 shares during the last quarter. Insight Inv LLC lifted its stake in shares of Chevron by 10.2% in the 4th quarter. Insight Inv LLC now owns 18,254 shares of the oil and gas company’s stock valued at $2,644,000 after purchasing an additional 1,694 shares during the period. Advocate Group LLC boosted its stake in shares of Chevron by 3.6% during the 4th quarter. Advocate Group LLC now owns 62,778 shares of the oil and gas company’s stock worth $9,093,000 after acquiring an additional 2,204 shares in the last quarter. Vantage Wealth increased its position in shares of Chevron by 13.0% in the fourth quarter. Vantage Wealth now owns 125,100 shares of the oil and gas company’s stock valued at $18,119,000 after buying an additional 14,404 shares in the last quarter. Finally, Compass Wealth Management LLC raised its position in Chevron by 2.4% during the fourth quarter. Compass Wealth Management LLC now owns 44,671 shares of the oil and gas company’s stock worth $6,470,000 after acquiring an additional 1,030 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.