Investors bought shares of Chevron Co. (NYSE:CVX) on weakness during trading on Tuesday. $256.29 million flowed into the stock on the tick-up and $110.93 million flowed out of the stock on the tick-down, for a money net flow of $145.36 million into the stock. Of all equities tracked, Chevron had the 6th highest net in-flow for the day. Chevron traded down ($0.33) for the day and closed at $116.46
CVX has been the topic of several recent research reports. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research report on Monday, February 5th. Credit Suisse Group dropped their target price on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, March 7th. Zacks Investment Research downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Scotiabank reaffirmed a “buy” rating and set a $130.00 price objective on shares of Chevron in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $130.00.
The company has a debt-to-equity ratio of 0.22, a current ratio of 1.03 and a quick ratio of 0.83. The firm has a market capitalization of $222,470.00, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 2.30 and a beta of 1.19.
Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.22% and a net margin of 6.49%. The firm had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Chevron’s quarterly revenue was up 19.4% compared to the same quarter last year. equities research analysts predict that Chevron Co. will post 6.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.12 per share. This is a boost from Chevron’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.85%. The ex-dividend date was Thursday, February 15th. Chevron’s dividend payout ratio is presently 118.52%.
Large investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC acquired a new position in Chevron during the 4th quarter valued at $114,000. Virtue Capital Management LLC acquired a new position in shares of Chevron in the 4th quarter valued at $128,000. Acrospire Investment Management LLC raised its stake in shares of Chevron by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after buying an additional 800 shares in the last quarter. Accurate Investment Solutions Inc. raised its stake in shares of Chevron by 59.1% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 502 shares in the last quarter. Finally, Fusion Family Wealth LLC raised its stake in shares of Chevron by 192.6% in the 4th quarter. Fusion Family Wealth LLC now owns 1,273 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 838 shares in the last quarter. Hedge funds and other institutional investors own 65.04% of the company’s stock.
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Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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