Chevron (NYSE:CVX) Stock Price Down 1.5% – Should You Sell?

Chevron Co. (NYSE:CVX)’s share price traded down 1.5% during trading on Monday . The stock traded as low as $137.12 and last traded at $138.28. 2,364,193 shares traded hands during trading, a decline of 70% from the average session volume of 8,011,755 shares. The stock had previously closed at $140.39.

Analysts Set New Price Targets

Several brokerages have commented on CVX. UBS Group dropped their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Scotiabank cut shares of Chevron from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Finally, Redburn Atlantic restated a “sell” rating and issued a $124.00 target price (down from $156.00) on shares of Chevron in a report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Chevron currently has an average rating of “Hold” and an average target price of $160.24.

Chevron Trading Down 1.3%

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 firm has a market capitalization of $241.91 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a fifty day moving average price of $146.65 and a 200-day moving average price of $151.81.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. During the same period last year, the business posted $2.93 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Monday, May 19th. Chevron’s dividend payout ratio (DPR) is currently 78.17%.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Chevron in the fourth quarter worth $3,017,750,000. GQG Partners LLC acquired a new stake in Chevron in the 1st quarter valued at $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron during the first quarter valued at $1,362,232,000. Raymond James Financial Inc. acquired a new stake in shares of Chevron in the 4th quarter valued at $1,036,302,000. Finally, GAMMA Investing LLC increased its position in shares of Chevron by 21,191.5% during the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock worth $904,746,000 after purchasing an additional 5,382,847 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

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.