Chevron (NYSE:CVX) Trading 0.4% Higher – Still a Buy?

Chevron Co. (NYSE:CVX) shares were up 0.4% during mid-day trading on Friday . The stock traded as high as $141.80 and last traded at $141.67. Approximately 3,817,144 shares were traded during trading, a decline of 51% from the average daily volume of 7,736,335 shares. The stock had previously closed at $141.15.

Analysts Set New Price Targets

Several equities analysts recently issued reports on CVX shares. Truist Financial upped their price objective on shares of Chevron from $155.00 to $160.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Wells Fargo & Company upped their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. DZ Bank raised shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, November 5th. Scotiabank cut their price target on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America assumed coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.19.

Chevron Stock Performance

The stock’s fifty day moving average is $154.83 and its two-hundred day moving average is $151.92. The firm has a market capitalization of $256.71 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.93 and a beta of 1.10. 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 data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. The company had revenue of $50.67 billion during the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $3.05 EPS. Analysts forecast that Chevron Co. will post 10.5 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 4.56%. The ex-dividend date was Monday, November 18th. Chevron’s dividend payout ratio is currently 71.65%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVX. Tacita Capital Inc lifted its position in Chevron by 16.7% in the 3rd quarter. Tacita Capital Inc now owns 454 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 65 shares during the last quarter. Wallace Capital Management Inc. lifted its position in Chevron by 0.8% in the 3rd quarter. Wallace Capital Management Inc. now owns 8,229 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 65 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in Chevron by 0.3% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 19,769 shares of the oil and gas company’s stock valued at $2,911,000 after purchasing an additional 67 shares during the last quarter. S.A. Mason LLC lifted its position in Chevron by 0.7% in the 3rd quarter. S.A. Mason LLC now owns 9,033 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 67 shares during the last quarter. Finally, Jag Capital Management LLC lifted its position in Chevron by 5.2% in the 3rd quarter. Jag Capital Management LLC now owns 1,366 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 67 shares during the last quarter. 72.42% of the stock is currently 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.