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

Shares of Chevron Co. (NYSE:CVX) traded up 1.4% on Wednesday . The stock traded as high as $163.10 and last traded at $163.01. 2,418,410 shares traded hands during trading, a decline of 67% from the average session volume of 7,248,752 shares. The stock had previously closed at $160.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CVX. Truist Financial decreased their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. UBS Group decreased their price objective 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. Wells Fargo & Company cut their target price on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Finally, Raymond James cut their price objective on Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Down 0.3 %

The firm has a 50-day moving average of $156.07 and a two-hundred day moving average of $152.40. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $289.09 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $3.45 EPS. Equities research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $1.71 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is presently 70.37%.

Insider Buying and Selling at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the firm’s 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 transaction, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. This trade represents a 89.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Chevron

Hedge funds have recently bought and sold shares of the stock. United Bank lifted its position in shares of Chevron by 8.4% during the 3rd quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock worth $1,192,000 after purchasing an additional 629 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Chevron by 93.6% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 125,646 shares of the oil and gas company’s stock worth $18,504,000 after buying an additional 60,750 shares during the last quarter. Jennison Associates LLC lifted its holdings in Chevron by 11.9% during the 3rd quarter. Jennison Associates LLC now owns 449,683 shares of the oil and gas company’s stock worth $66,225,000 after buying an additional 47,747 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Chevron by 20.2% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,471 shares of the oil and gas company’s stock worth $806,000 after acquiring an additional 920 shares in the last quarter. Finally, Darwin Wealth Management LLC purchased a new position in shares of Chevron in the 3rd quarter valued at about $30,000. 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.