Chevron (NYSE:CVX) Trading Up 0.1% – Time to Buy?

Shares of Chevron Co. (NYSE:CVX) traded up 0.1% during mid-day trading on Wednesday . The stock traded as high as $156.58 and last traded at $156.36. Approximately 1,220,615 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 7,371,165 shares. The stock had previously closed at $156.21.

Analysts Set New Price Targets

Several research firms have commented on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Truist Financial boosted their target price on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a report on Monday, January 13th. Bank of America initiated coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Scotiabank dropped their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $175.27.

Chevron Stock Down 0.2 %

The firm has a 50 day moving average of $153.67 and a 200-day moving average of $151.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $280.20 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts expect that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.18%. Chevron’s dividend payout ratio (DPR) is currently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several large investors have recently made changes to their positions in the company. Quarry LP raised its position in Chevron by 172.2% in the 2nd quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 260 shares during the last quarter. Next Capital Management LLC raised its holdings in shares of Chevron by 22.9% in the second quarter. Next Capital Management LLC now owns 2,012 shares of the oil and gas company’s stock valued at $315,000 after buying an additional 375 shares during the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Chevron by 1.5% in the second quarter. Pathway Financial Advisers LLC now owns 24,614 shares of the oil and gas company’s stock valued at $3,832,000 after buying an additional 372 shares during the last quarter. McGinn Penninger Investment Management Inc. grew its holdings in Chevron by 1.9% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 28,818 shares of the oil and gas company’s stock worth $4,508,000 after acquiring an additional 540 shares during the last quarter. Finally, SPC Financial Inc. increased its position in Chevron by 23.8% in the 2nd quarter. SPC Financial Inc. now owns 5,671 shares of the oil and gas company’s stock valued at $887,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

About Chevron

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.