Shares of Chevron Corporation (NYSE:CVX – Get Free Report) traded up 1.2% on Monday . The company traded as high as $190.35 and last traded at $189.7130. Approximately 7,685,765 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 11,365,183 shares. The stock had previously closed at $187.38.
Key Headlines Impacting Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron and other energy names are benefiting from higher oil prices, with crude recently surging above $90 a barrel; that can boost Chevron’s upstream earnings and cash flow. Why Are BATL, TPET, XOM, CVX, USO, UCO Stocks Rising Overnight?
- Positive Sentiment: Analysts say Chevron looks poised to beat second-quarter earnings estimates, helped by elevated oil prices supporting production and broader energy demand. Chevron & 2 Energy Stocks Poised to Beat Q2 Earnings Estimates
- Positive Sentiment: Chevron is seen as a relatively lower-risk, high-free-cash-flow energy major versus ExxonMobil by one investing article, which can support investor sentiment toward CVX. Chevron vs. ExxonMobil: Only One Deserves a Spot in Your Portfolio Today.
Wall Street Analyst Weigh In
CVX has been the topic of several analyst reports. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Barclays boosted their target price on Chevron from $192.00 to $213.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Wells Fargo & Company upped their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Sanford C. Bernstein reduced their price objective on shares of Chevron from $216.00 to $204.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Finally, BNP Paribas Exane upgraded shares of Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a report on Friday, April 17th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $206.83.
Chevron Trading Up 1.2%
The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $377.83 billion, a P/E ratio of 32.88, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. The company has a fifty day simple moving average of $181.54 and a two-hundred day simple moving average of $182.66.
Chevron (NYSE:CVX – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. On average, sell-side analysts expect that Chevron Corporation will post 14.78 earnings per share for the current year.
Chevron Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were paid a dividend of $1.78 per share. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Chevron’s dividend payout ratio is presently 123.40%.
Insider Buying and Selling
In other Chevron news, Director John B. Hess sold 380,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.56% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Midwest Capital Advisors LLC acquired a new stake in shares of Chevron during the first quarter worth $25,000. Core Wealth Advisors LLC acquired a new position in Chevron in the 4th quarter worth $26,000. Phillip James Consulting Co. acquired a new position in Chevron in the 4th quarter worth $26,000. Basso Capital Management L.P. acquired a new position in Chevron in the 4th quarter worth $27,000. Finally, Karpus Management Inc. bought a new position in Chevron during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.
About Chevron
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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