Chevron (NYSE:CVX) Trading 0.6% Higher – Should You Buy?

Chevron Co. (NYSE:CVX)’s share price shot up 0.6% during trading on Tuesday . The company traded as high as $167.82 and last traded at $166.04. 1,967,906 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 7,337,986 shares. The stock had previously closed at $165.02.

Analyst Ratings Changes

CVX has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Truist Financial reduced their target price on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. UBS Group cut their price target on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Citigroup raised Chevron from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $185.00 in a research 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.6 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50 day simple moving average of $156.49 and a 200 day simple moving average of $152.81. The company has a market capitalization of $292.15 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

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

Chevron Increases Dividend

The business also recently disclosed 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 is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the business. United Bank boosted its position in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the period. Fisher Asset Management LLC boosted its position in shares of Chevron by 3.6% during the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock worth $2,869,171,000 after buying an additional 672,244 shares during the period. Douglass Winthrop Advisors LLC grew its stake in shares of Chevron by 4.8% in the third quarter. Douglass Winthrop Advisors LLC now owns 26,912 shares of the oil and gas company’s stock valued at $3,963,000 after buying an additional 1,233 shares in the last quarter. Concentric Wealth Management LLC lifted its stake in Chevron by 3.1% during the 3rd quarter. Concentric Wealth Management LLC now owns 36,489 shares of the oil and gas company’s stock worth $5,374,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Bedell Frazier Investment Counselling LLC boosted its holdings in Chevron by 3.6% during the 3rd quarter. Bedell Frazier Investment Counselling LLC now owns 13,276 shares of the oil and gas company’s stock valued at $1,955,000 after acquiring an additional 466 shares during the period. 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.