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

by · The Cerbat Gem

Chevron Co. (NYSE:CVX – Get Free Report) rose 0.6% during mid-day trading on Thursday . The company traded as high as $158.74 and last traded at $158.16. Approximately 2,095,607 shares were traded during trading, a decline of 71% from the average daily volume of 7,259,462 shares. The stock had previously closed at $157.23.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CVX. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Tuesday, November 5th. UBS Group decreased their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Truist Financial decreased their price target on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Read Our Latest Report on Chevron

Chevron Price Performance

The company has a market cap of $282.00 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The business has a 50 day moving average of $151.97 and a 200 day moving average of $150.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX – Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. Chevron’s dividend payout ratio is 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently 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. IMG Wealth Management Inc. bought a new position in shares of Chevron during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter worth approximately $29,000. Rational Advisors LLC bought a new position in Chevron during the 3rd quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in Chevron during the fourth quarter valued at $29,000. Finally, 10Elms LLP bought a new stake in Chevron in the fourth quarter worth $29,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Company Profile

(Get Free Report)

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.

Featured Stories