Chevron (NYSE:CVX) Trading Up 0.4% – Still a Buy?

Chevron Co. (NYSE:CVX) shares were up 0.4% during mid-day trading on Friday . The stock traded as high as $154.34 and last traded at $150.95. Approximately 3,377,535 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 6,197,917 shares. The stock had previously closed at $150.30.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Wells Fargo & Company raised their target price on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Truist Financial upped their price target on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $174.60.

Chevron Stock Up 1.7 %

The company has a market cap of $274.60 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. The company has a fifty day moving average of $153.68 and a two-hundred day moving average of $151.08. 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 announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last year, the firm earned $3.05 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Chevron Co. will post 10.5 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Insiders Place Their Bets

In other news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction 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 transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Several institutional investors and hedge funds have recently bought and sold shares of the company. Marietta Wealth Management LLC increased its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock valued at $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC lifted its position in shares of Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock valued at $1,214,000 after buying an additional 1,354 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of 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. RPG Investment Advisory LLC increased its position in shares of Chevron by 3.4% during the third quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Finally, State Street Corp raised its holdings in Chevron by 0.6% in the 3rd 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 during the last quarter. 72.42% of the stock is owned by hedge funds and other 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.