Chevron (NYSE:CVX) Trading Up 0.6% – Time to Buy?

Chevron Co. (NYSE:CVX)’s stock price traded up 0.6% during trading on Wednesday . The stock traded as high as $144.04 and last traded at $143.84. 3,556,081 shares were traded during mid-day trading, a decline of 55% from the average session volume of 7,837,457 shares. The stock had previously closed at $142.97.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Mizuho reduced their target price on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Barclays increased their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.19.

Chevron Price Performance

The stock has a market capitalization of $258.49 billion, a PE ratio of 15.81, a PEG ratio of 2.93 and a beta of 1.10. 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 company’s 50 day simple moving average is $154.57 and its 200 day simple moving average is $151.72.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the previous year, the company posted $3.05 earnings per share. Chevron’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.53%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Transactions at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Lantz Financial LLC grew its stake in shares of Chevron by 2.7% in the second quarter. Lantz Financial LLC now owns 23,334 shares of the oil and gas company’s stock worth $3,650,000 after purchasing an additional 623 shares in the last quarter. Burney Co. raised its stake in shares of Chevron by 79.1% in the 2nd quarter. Burney Co. now owns 31,301 shares of the oil and gas company’s stock worth $4,896,000 after buying an additional 13,820 shares in the last quarter. Rowlandmiller & PARTNERS.ADV boosted its stake in Chevron by 0.4% during the second quarter. Rowlandmiller & PARTNERS.ADV now owns 46,704 shares of the oil and gas company’s stock valued at $7,305,000 after buying an additional 175 shares in the last quarter. FAS Wealth Partners Inc. raised its holdings in shares of Chevron by 3.8% in the 2nd quarter. FAS Wealth Partners Inc. now owns 35,132 shares of the oil and gas company’s stock worth $5,495,000 after purchasing an additional 1,283 shares in the last quarter. Finally, Blue Chip Partners LLC boosted its stake in shares of Chevron by 26.5% during the 2nd quarter. Blue Chip Partners LLC now owns 1,653 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 346 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.