Chevron (NYSE:CVX) Shares Up 1.8% – Still a Buy?

Shares of Chevron Co. (NYSE:CVX) traded up 1.8% during trading on Tuesday . The stock traded as high as $150.44 and last traded at $149.84. 2,240,553 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 5,173,599 shares. The stock had previously closed at $147.26.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays upped their target price on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Mizuho lowered their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Piper Sandler lowered their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Scotiabank lowered their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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.com, Chevron has an average rating of “Moderate Buy” and a consensus target price of $174.60.

Chevron Trading Up 0.2 %

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 firm has a market capitalization of $269.35 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 2.93 and a beta of 1.12. The company has a 50-day moving average price of $153.66 and a 200-day moving average price of $151.09.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were given a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.35%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insiders Place Their Bets

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

A number of hedge funds and other institutional investors have recently made changes to their positions in CVX. State Street Corp boosted its holdings in shares of Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC lifted its position in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after purchasing an additional 672,244 shares during the period. Franklin Resources Inc. boosted its holdings in Chevron by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 17,200,188 shares of the oil and gas company’s stock valued at $2,610,645,000 after purchasing an additional 573,218 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after purchasing an additional 501,969 shares during the period. Hedge funds and other 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.