Chevron (NYSE:CVX) Trading Down 5%…

Chevron Co. (NYSE:CVX)’s share price fell 5% during trading on Friday following a weaker than expected earnings announcement. The company traded as low as $128.33 and last traded at $128.57. 875,931 shares traded hands during trading, a decline of 94% from the average session volume of 14,421,691 shares. The stock had previously closed at $135.37.The oil and gas company reported $2.56 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.13 by ($0.57). Chevron had a return on equity of 7.95% and a net margin of 7.10%. The business had revenue of $48.22 billion for the quarter, compared to the consensus estimate of $45.22 billion. During the same period in the previous year, the firm earned ($0.01) earnings per share. The company’s revenue was up 91.0% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 10th. Stockholders of record on Wednesday, February 16th will be paid a $1.42 dividend. This is a positive change from Chevron’s previous quarterly dividend of $1.34. This represents a $5.68 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date is Tuesday, February 15th. Chevron’s dividend payout ratio is currently 103.47%.

CVX has been the topic of a number of analyst reports. Morgan Stanley upped their price objective on shares of Chevron from $155.00 to $166.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James increased their target price on shares of Chevron from $137.00 to $155.00 and gave the company an “outperform” rating in a report on Tuesday, January 18th. Truist Financial increased their target price on shares of Chevron from $150.00 to $167.00 and gave the company a “buy” rating in a report on Friday, January 14th. The Goldman Sachs Group increased their target price on shares of Chevron from $121.00 to $146.00 and gave the company a “neutral” rating in a report on Tuesday, January 18th. Finally, Wells Fargo & Company upgraded shares of Chevron from an “equal weight” rating to an “overweight” rating in a report on Wednesday, January 5th. Seven analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $128.55.

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In other Chevron news, CEO Michael K. Wirth sold 52,500 shares of the company’s stock in a transaction that occurred on Thursday, November 4th. The stock was sold at an average price of $113.79, for a total value of $5,973,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Eimear P. Bonner sold 35,301 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $114.50, for a total value of $4,041,964.50. The disclosure for this sale can be found here. In the last three months, insiders sold 477,883 shares of company stock valued at $57,414,185. 0.28% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Eagle Capital Management LLC boosted its position in shares of Chevron by 3.1% during the 2nd quarter. Eagle Capital Management LLC now owns 34,480 shares of the oil and gas company’s stock valued at $3,611,000 after acquiring an additional 1,047 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Chevron by 12.8% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 356,564 shares of the oil and gas company’s stock valued at $37,347,000 after acquiring an additional 40,467 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in shares of Chevron by 17.4% during the 2nd quarter. Financial Engines Advisors L.L.C. now owns 9,502 shares of the oil and gas company’s stock valued at $995,000 after acquiring an additional 1,405 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of Chevron by 2.9% during the 2nd quarter. Clearstead Advisors LLC now owns 36,178 shares of the oil and gas company’s stock valued at $3,789,000 after acquiring an additional 1,023 shares during the last quarter. Finally, Bollard Group LLC raised its holdings in Chevron by 108.0% during the 2nd quarter. Bollard Group LLC now owns 123,396 shares of the oil and gas company’s stock valued at $12,925,000 after buying an additional 64,079 shares during the period. Institutional investors and hedge funds own 64.98% of the company’s stock.

The company has a fifty day moving average of $120.27 and a two-hundred day moving average of $109.56. The company has a market cap of $247.86 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 2.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.28.

Chevron Company Profile (NYSE:CVX)

Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The Upstream segment consists of exploration, development, and production of crude oil and natural gas; liquefaction, transportation, and regasification associated with liquefied natural gas; transporting crude oil by major international oil export pipelines; processing, transporting, storage, and marketing of natural gas; and a gas-to-liquids plant.

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