Chevron (NYSE:CVX) Stock Price Up 0.8% – Time to Buy?

Chevron Co. (NYSE:CVX) traded up 0.8% during trading on Tuesday . The stock traded as high as $144.49 and last traded at $141.28. 2,823,376 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 7,718,658 shares. The stock had previously closed at $140.15.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Barclays lowered their price objective on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. 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. Raymond James lowered their price target on Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. Finally, UBS Group dropped their price objective on Chevron from $194.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

Chevron Stock Down 1.5 %

The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market cap of $243.11 billion, a P/E ratio of 14.21, a PEG ratio of 1.46 and a beta of 0.93. The firm has a 50-day simple moving average of $157.04 and a two-hundred day simple moving average of $154.21.

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

Chevron Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 4.95%. This is an increase from Chevron’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, February 14th. Chevron’s payout ratio is presently 70.37%.

Insider Activity at Chevron

In related news, VP Jeff B. Gustavson sold 9,325 shares of the company’s 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 owns 1,057 shares of the company’s stock, valued at $161,192.50. This represents a 89.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Life Planning Partners Inc acquired a new position in shares of Chevron during the 4th quarter worth $25,000. IMG Wealth Management Inc. bought a new position in Chevron in the fourth quarter valued at about $25,000. Legacy Investment Solutions LLC acquired a new position in Chevron during the third quarter worth about $29,000. Mizuho Securities Co. Ltd. bought a new position in shares of Chevron in the fourth quarter worth about $29,000. Finally, 10Elms LLP acquired a new stake in shares of Chevron in the 4th quarter valued at approximately $29,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.