Chevron (NYSE:CVX) Shares Up 0.5% – Should You Buy?

Chevron Co. (NYSE:CVX) shares shot up 0.5% on Tuesday . The company traded as high as $159.92 and last traded at $159.45. 1,528,284 shares were traded during mid-day trading, a decline of 79% from the average session volume of 7,237,646 shares. The stock had previously closed at $158.72.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays decreased their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. UBS Group reduced their price target on shares of Chevron from $195.00 to $194.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. Four equities 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a market capitalization of $279.96 billion, a P/E ratio of 16.36, a PEG ratio of 1.46 and a beta of 1.08. The company’s fifty day simple moving average is $155.26 and its 200-day simple moving average is $152.14.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter in the prior year, the company earned $3.45 EPS. Research analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.30%. This is a positive change from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now directly owns 1,057 shares of the company’s stock, valued at approximately $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Life Planning Partners Inc acquired a new position in shares of Chevron during the fourth quarter worth $25,000. IMG Wealth Management Inc. acquired a new position in Chevron during the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the 3rd quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Chevron in the fourth quarter worth about $29,000. Finally, 10Elms LLP purchased a new stake in shares of Chevron during the fourth quarter worth about $29,000. 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.