Chevron (NYSE:CVX) Shares Up 0.5% – Should You Buy?

Chevron Co. (NYSE:CVX)’s share price rose 0.5% during trading on Thursday . The stock traded as high as $162.30 and last traded at $162.14. Approximately 1,498,411 shares changed hands during trading, a decline of 80% from the average daily volume of 7,624,411 shares. The stock had previously closed at $161.33.

Analyst Upgrades and Downgrades

CVX has been the topic of several research analyst reports. Mizuho lowered their target price on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada raised their price target on shares of Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Bank of America initiated coverage on shares of Chevron in a research note on Thursday, October 17th. They issued a “buy” rating and a $168.00 target price for the company. Truist Financial lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Finally, DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.93.

Chevron Price Performance

The stock’s 50-day moving average is $150.70 and its 200-day moving average is $152.63. The firm has a market cap of $291.81 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 3.59 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. The firm had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.05 EPS. As a group, equities analysts anticipate that Chevron Co. will post 10.55 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.02%. Chevron’s dividend payout ratio is presently 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by corporate insiders.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently modified their holdings of the stock. Marietta Wealth Management LLC increased its stake in Chevron by 10.9% during the 3rd quarter. Marietta Wealth Management LLC now owns 40,484 shares of the oil and gas company’s stock worth $5,962,000 after purchasing an additional 3,965 shares in the last quarter. Leo Wealth LLC increased its stake in Chevron by 19.6% during the 3rd quarter. Leo Wealth LLC now owns 8,246 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 1,354 shares in the last quarter. RPG Investment Advisory LLC increased its stake in Chevron by 3.4% during the 3rd quarter. RPG Investment Advisory LLC now owns 121,167 shares of the oil and gas company’s stock worth $17,844,000 after purchasing an additional 3,933 shares in the last quarter. Garner Asset Management Corp increased its stake in Chevron by 14.5% during the 2nd quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company’s stock worth $3,128,000 after purchasing an additional 2,530 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. increased its holdings in Chevron by 3.2% during the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company’s stock worth $16,930,000 after purchasing an additional 3,561 shares in the last quarter. 72.42% of the stock is owned by 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.