Chevron (NYSE:CVX) Stock Price Up 1.4% – Time to Buy?

Shares of Chevron Co. (NYSE:CVX) were up 1.4% during mid-day trading on Monday . The company traded as high as $168.92 and last traded at $168.38. Approximately 1,860,161 shares were traded during trading, a decline of 76% from the average daily volume of 7,592,864 shares. The stock had previously closed at $166.09.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVX. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Piper Sandler cut their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays reduced their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.13.

Chevron Trading Up 0.8 %

The firm’s fifty day simple moving average is $157.10 and its 200 day simple moving average is $153.60. The stock has a market capitalization of $294.84 billion, a P/E ratio of 17.24, 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 quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX) last announced its quarterly 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 last year, the company earned $3.45 EPS. As a group, equities research analysts forecast that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.08%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is currently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chevron

Several large investors have recently added to or reduced their stakes in the business. Fire Capital Management LLC bought a new stake in Chevron during the 4th quarter worth approximately $598,000. Mascagni Wealth Management Inc. purchased a new stake in Chevron in the 4th quarter valued at $940,000. DSG Capital Advisors LLC bought a new position in Chevron during the 4th quarter valued at $2,743,000. Chancellor Financial Group WB LP purchased a new position in Chevron during the 4th quarter worth $632,000. Finally, Triton Wealth Management PLLC raised its holdings in shares of Chevron by 24.8% in the fourth quarter. Triton Wealth Management PLLC now owns 2,913 shares of the oil and gas company’s stock valued at $461,000 after purchasing an additional 578 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.