Chevron (NYSE:CVX) Trading 0.5% Higher – Time to Buy?

Chevron Co. (NYSE:CVX)’s stock price rose 0.5% on Thursday . The stock traded as high as $162.30 and last traded at $162.14. Approximately 1,498,411 shares changed hands during trading, a decline of 80% from the average daily volume of 7,624,411 shares. The stock had previously closed at $161.33.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent research reports. Scotiabank decreased their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho decreased their price target on Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. UBS Group increased their price target on Chevron from $192.00 to $194.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company reduced their target price on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Stock Up 0.5 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $151.58 and a 200-day moving average price of $152.69. The firm has a market cap of $291.78 billion, a P/E ratio of 17.84, a P/E/G ratio of 3.56 and a beta of 1.09.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Monday, November 18th. Chevron’s payout ratio is currently 71.65%.

Insider Activity at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently added to or reduced their stakes in CVX. China Universal Asset Management Co. Ltd. purchased a new position in shares of Chevron in the first quarter worth about $566,000. Gamco Investors INC. ET AL raised its stake in shares of Chevron by 6.0% in the first quarter. Gamco Investors INC. ET AL now owns 27,377 shares of the oil and gas company’s stock worth $4,318,000 after purchasing an additional 1,552 shares during the last quarter. Truvestments Capital LLC raised its stake in shares of Chevron by 34.4% in the first quarter. Truvestments Capital LLC now owns 926 shares of the oil and gas company’s stock worth $146,000 after purchasing an additional 237 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Chevron by 27.2% in the first quarter. 1832 Asset Management L.P. now owns 71,948 shares of the oil and gas company’s stock worth $11,349,000 after purchasing an additional 15,383 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC raised its stake in shares of Chevron by 25.9% in the first quarter. Beaird Harris Wealth Management LLC now owns 4,300 shares of the oil and gas company’s stock worth $678,000 after purchasing an additional 885 shares during the last quarter. Institutional investors and hedge funds 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.