Chevron (NYSE:CVX) Trading Up 0.6% – Should You Buy?

Chevron Co. (NYSE:CVX) traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $151.18 and last traded at $150.48. 1,793,615 shares were traded during mid-day trading, a decline of 68% from the average session volume of 5,635,873 shares. The stock had previously closed at $149.59.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America assumed coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Royal Bank of Canada upped their price target on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays increased their price target on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price objective on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price objective on the stock in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.60.

Chevron Trading Up 2.0 %

The company has a market cap of $275.48 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 2.93 and a beta of 1.12. 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 50-day simple moving average of $153.69 and a 200 day simple moving average of $151.04.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same quarter in the prior year, the business earned $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Chevron Co. will post 10.5 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th were given a dividend of $1.63 per share. The ex-dividend date was Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.25%. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the transaction, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Institutional investors and hedge funds have recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Chevron in the 3rd quarter valued at $29,000. Rational Advisors LLC purchased a new position in shares of Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC purchased a new stake in Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron in the 3rd quarter valued at approximately $31,000. Finally, Cyrus J. Lawrence LLC boosted its position in Chevron by 66.7% in the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 100 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.