Chevron (NYSE:CVX) Shares Up 2.3% – Should You Buy?

Chevron Co. (NYSE:CVX)’s stock price was up 2.3% during mid-day trading on Monday . The stock traded as high as $159.77 and last traded at $159.97. Approximately 3,635,386 shares changed hands during trading, a decline of 51% from the average daily volume of 7,365,060 shares. The stock had previously closed at $156.34.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. Barclays reduced their price objective on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group lowered their target price on Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their price target for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Truist Financial lowered their price objective on shares of Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Stock Down 2.3 %

The stock has a fifty day moving average price of $154.55 and a 200 day moving average price of $151.91. The stock has a market capitalization of $271.02 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08. 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) last posted its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (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. On average, research analysts forecast that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Buying and Selling

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction that occurred on 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 $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by company insiders.

Institutional Trading of Chevron

A number of hedge funds have recently made changes to their positions in the stock. Campbell Deegan Wealth Management LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $466,000. Anchor Pointe Wealth Management LLC purchased a new stake in Chevron in the fourth quarter worth $334,000. SpringVest Wealth Management LLC bought a new stake in Chevron in the fourth quarter valued at $270,000. Old North State Trust LLC increased its position in Chevron by 4.0% during the 4th quarter. Old North State Trust LLC now owns 2,652 shares of the oil and gas company’s stock valued at $384,000 after purchasing an additional 103 shares during the period. Finally, Copia Wealth Management bought a new position in Chevron in the 4th quarter worth $140,000. 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.