Chevron (NYSE:CVX) Trading 0.6% Higher – Should You Buy?

Shares of Chevron Co. (NYSE:CVX) were up 0.6% on Thursday . The stock traded as high as $150.35 and last traded at $149.62. Approximately 1,080,681 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,690,815 shares. The stock had previously closed at $148.73.

Analyst Ratings Changes

Several research firms have recently commented on CVX. Sanford C. Bernstein cut shares of Chevron from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $183.00 to $167.00 in a research note on Wednesday, July 17th. Truist Financial cut 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. Bank of America initiated coverage on Chevron in a research report on Thursday. They set a “buy” rating and a $168.00 price objective for the company. Wells Fargo & Company reduced their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Finally, UBS Group raised their target price on shares of Chevron from $189.00 to $192.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.07.

Chevron Price Performance

The stock has a market cap of $277.81 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 2.74 and a beta of 1.09. The company’s fifty day simple moving average is $146.07 and its 200-day simple moving average is $153.71. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted 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). The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. Chevron had a return on equity of 13.70% and a net margin of 9.31%. Chevron’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.08 EPS. As a group, sell-side analysts forecast that Chevron Co. will post 11.06 EPS for the current year.

Chevron Announces Dividend

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

Institutional Trading of Chevron

A number of large investors have recently bought and sold shares of CVX. Pacifica Partners Inc. grew its holdings in shares of Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC increased its position in shares of Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after purchasing an additional 63 shares during the period. Montz Harcus Wealth Management LLC raised its position in shares of Chevron by 2.2% in the 2nd quarter. Montz Harcus Wealth Management LLC now owns 2,943 shares of the oil and gas company’s stock valued at $460,000 after buying an additional 63 shares in the last quarter. Hubbell Strickland Wealth Management LLC lifted its stake in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 9,493 shares of the oil and gas company’s stock worth $1,485,000 after purchasing an additional 64 shares during the last quarter. Finally, Mayfair Advisory Group LLC boosted its stake in Chevron by 0.7% in the first quarter. Mayfair Advisory Group LLC now owns 9,407 shares of the oil and gas company’s stock valued at $1,484,000 after buying an additional 65 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.