Chevron (NYSE:CVX) Trading 0.3% Higher – Time to Buy?

Shares of Chevron Co. (NYSE:CVX) rose 0.3% on Tuesday . The company traded as high as $156.03 and last traded at $155.74. Approximately 1,419,818 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 7,354,042 shares. The stock had previously closed at $155.34.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CVX. Citigroup raised shares of Chevron from a “neutral” rating to a “buy” rating and boosted their target price for the company from $145.00 to $185.00 in a research note on Tuesday, November 26th. Raymond James reduced their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Piper Sandler lowered their target price on Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group decreased their price target on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

The company has a market cap of $285.53 billion, a P/E ratio of 16.35, a PEG ratio of 1.43 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company has a fifty day simple moving average of $151.82 and a 200-day simple moving average of $150.85.

Chevron (NYSE:CVX) last announced its earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the company earned $3.45 EPS. On average, sell-side analysts predict that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.31%. The ex-dividend date is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is 70.37%.

Insider Activity

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Life Planning Partners Inc bought a new position in Chevron during the fourth quarter valued at approximately $25,000. IMG Wealth Management Inc. acquired a new position in shares of Chevron during the 4th quarter worth $25,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC acquired a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Finally, Mizuho Securities Co. Ltd. acquired a new position in Chevron during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

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.