Chevron (NYSE:CVX) Stock Price Up 0.6% – Time to Buy?

Chevron Co. (NYSE:CVX) traded up 0.6% during trading on Tuesday . The company traded as high as $167.82 and last traded at $166.04. 1,967,906 shares traded hands during trading, a decline of 73% from the average session volume of 7,337,986 shares. The stock had previously closed at $165.02.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group lowered 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. Royal Bank of Canada restated an “outperform” rating and set a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Barclays cut their price target on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. Finally, Piper Sandler reduced their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Price Performance

The stock has a fifty day moving average of $156.87 and a 200 day moving average of $153.11. 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 stock has a market cap of $293.59 billion, a price-to-earnings ratio of 17.15, a P/E/G ratio of 1.46 and a beta of 1.08.

Chevron (NYSE:CVX) last released its quarterly earnings data 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 quarter in the previous year, the company earned $3.45 earnings per share. On average, analysts expect that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s payout ratio is 70.37%.

Insider Transactions 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 transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in CVX. United Bank grew its stake in shares of Chevron by 8.4% in the third quarter. United Bank now owns 8,095 shares of the oil and gas company’s stock valued at $1,192,000 after buying an additional 629 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Chevron by 7.2% during the third quarter. Loomis Sayles & Co. L P now owns 2,413 shares of the oil and gas company’s stock worth $355,000 after acquiring an additional 163 shares during the period. Truvestments Capital LLC acquired a new position in Chevron during the 3rd quarter worth $180,000. Townsquare Capital LLC raised its position in Chevron by 16.9% in the 3rd quarter. Townsquare Capital LLC now owns 245,998 shares of the oil and gas company’s stock valued at $36,228,000 after purchasing an additional 35,525 shares in the last quarter. Finally, Hardy Reed LLC grew its position in shares of Chevron by 9.2% during the third quarter. Hardy Reed LLC now owns 11,387 shares of the oil and gas company’s stock worth $1,677,000 after buying an additional 963 shares in 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.