Chevron (NYSE:CVX) Trading 0.5% Higher – Still a Buy?

Chevron Co. (NYSE:CVX) shares shot up 0.5% during trading on Monday . The company traded as high as $166.17 and last traded at $165.54. 1,895,835 shares traded hands during trading, a decline of 74% from the average session volume of 7,315,748 shares. The stock had previously closed at $164.75.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVX shares. Wells Fargo & Company dropped their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a report on Monday, February 3rd. Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 0.6 %

The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $292.14 billion, a PE ratio of 17.07, a P/E/G ratio of 1.46 and a beta of 1.08. The business’s fifty day moving average is $156.67 and its 200-day moving average is $153.01.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period last year, the company earned $3.45 EPS. As a group, analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently bought and sold shares of CVX. Life Planning Partners Inc acquired a new stake in Chevron during the 4th quarter valued at $25,000. IMG Wealth Management Inc. acquired a new stake in shares of Chevron during the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new stake in Chevron during the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Chevron during the fourth quarter worth approximately $29,000. Finally, 10Elms LLP acquired a new position in Chevron during the 4th quarter worth $29,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.