Chevron (NYSE:CVX) Trading 0.5% Higher – Time to Buy?

Shares of Chevron Co. (NYSE:CVX) traded up 0.5% during mid-day trading on Thursday . The company traded as high as $162.30 and last traded at $162.14. 1,498,411 shares changed hands during trading, a decline of 80% from the average session volume of 7,624,411 shares. The stock had previously closed at $161.33.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Mizuho cut their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Bank of America assumed coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. UBS Group lifted their target price on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Barclays lifted their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Chevron Price Performance

The business’s 50 day moving average is $151.58 and its two-hundred day moving average is $152.69. The firm has a market capitalization of $291.78 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 3.56 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.04. The firm had revenue of $50.67 billion during 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 business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.05 EPS. Equities research analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $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 is available at the SEC website. 0.20% of the stock is owned by company insiders.

Institutional Trading of Chevron

Several hedge funds have recently added to or reduced their stakes in the business. Montz Harcus Wealth Management LLC raised its holdings in shares of Chevron by 2.2% during the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock worth $460,000 after acquiring an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC raised its holdings in shares of Chevron by 0.7% during the 2nd quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after acquiring an additional 64 shares in the last quarter. Tacita Capital Inc raised its holdings in shares of Chevron by 16.7% during the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 65 shares in the last quarter. Wallace Capital Management Inc. raised its holdings in shares of Chevron by 0.8% during the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock worth $1,212,000 after acquiring an additional 65 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its holdings in shares of Chevron by 0.3% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock worth $2,911,000 after acquiring an additional 67 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

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.