Chevron (NYSE:CVX) Trading Up 0.7% – Time to Buy?

Chevron Co. (NYSE:CVX)’s share price was up 0.7% during trading on Wednesday . The company traded as high as $149.02 and last traded at $148.78. Approximately 636,065 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 7,706,565 shares. The stock had previously closed at $147.73.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CVX. Truist Financial decreased their target price on shares of Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Mizuho decreased their price objective on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Barclays lowered their target price on shares of Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company cut their price target on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research report on Friday, September 27th. Finally, Sanford C. Bernstein lowered Chevron from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Trading Down 0.3 %

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $277.73 billion, a P/E ratio of 13.79, a P/E/G ratio of 2.74 and a beta of 1.09. The firm’s 50-day moving average price is $145.96 and its 200 day moving average price is $153.76.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The company had revenue of $51.18 billion for the quarter, compared to the consensus estimate of $48.68 billion. During the same period in the prior year, the firm posted $3.08 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, equities research analysts predict that Chevron Co. will post 11.06 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Monday, August 19th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Monday, August 19th. Chevron’s payout ratio is currently 59.98%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Anfield Capital Management LLC boosted its stake in shares of Chevron by 118.0% in the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after buying an additional 118 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% in the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter valued at $47,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Chevron during the 1st quarter valued at $55,000. Finally, Richardson Capital Management LLC bought a new stake in shares of Chevron during the 1st quarter worth $58,000. 72.42% of the stock is owned by institutional investors.

About Chevron

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.