Chevron (NYSE:CVX) Stock Price Up 0.7% – Should You Buy?

Chevron Co. (NYSE:CVX)’s stock price rose 0.7% during mid-day trading on Monday . The stock traded as high as $158.33 and last traded at $157.97. Approximately 1,658,857 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 7,193,642 shares. The stock had previously closed at $156.92.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $185.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price target on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Chevron Trading Up 0.6 %

The company has a market capitalization of $283.58 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.46 and a beta of 1.11. The firm has a fifty day moving average price of $151.97 and a 200-day moving average price of $151.11. 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, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $3.45 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.79 EPS for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $1.71 per share. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.33%. Chevron’s dividend payout ratio is presently 70.37%.

Insider Activity

In other news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were 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 of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of CVX. State Street Corp increased 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 worth $23,431,429,000 after purchasing an additional 874,962 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Chevron by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 36,269,270 shares of the oil and gas company’s stock valued at $5,247,142,000 after buying an additional 392,916 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,855,566 shares of the oil and gas company’s stock worth $4,613,960,000 after buying an additional 746,806 shares during the period. Norges Bank acquired a new stake in Chevron during the 4th quarter worth approximately $3,017,750,000. Finally, Northern Trust Corp grew its holdings in Chevron by 7.3% during the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock worth $2,965,135,000 after acquiring an additional 1,394,091 shares during the last quarter. 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.