Chevron (NYSE:CVX) Shares Up 0.6% - Still a Buy?

Shares of Chevron Co. (NYSE:CVX - Get Free Report) shot up 0.6% during trading on Thursday . The company traded as high as $157.45 and last traded at $156.69. 1,804,135 shares were traded during mid-day trading, a decline of 75% from the average session volume of 7,300,691 shares. The stock had previously closed at $155.69.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CVX shares. Citigroup raised shares of Chevron from a "neutral" rating to a "buy" rating and upped their target price for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. UBS Group lifted their target price on Chevron from $194.00 to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, December 3rd. Truist Financial increased their price target on Chevron from $160.00 to $164.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Royal Bank of Canada raised their target price on shares of Chevron from $170.00 to $175.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.27.

Chevron Price Performance

The business has a 50-day moving average of $153.56 and a two-hundred day moving average of $151.16. 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 firm has a market cap of $280.68 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 1.37 and a beta of 1.12.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The company had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the prior year, the firm posted $3.05 earnings per share. The firm's revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.18 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 18th were paid a $1.63 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $6.52 annualized dividend and a dividend yield of 4.17%. Chevron's dividend payout ratio is 71.65%.

Insider Buying and Selling

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

Institutional Trading of Chevron

A number of large investors have recently bought and sold shares of the business. Quarry LP grew its holdings in Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company's stock worth $64,000 after purchasing an additional 260 shares during the period. Gibson Wealth Advisors LLC increased its position in Chevron by 0.7% in the 2nd quarter. Gibson Wealth Advisors LLC now owns 11,248 shares of the oil and gas company's stock valued at $1,759,000 after buying an additional 76 shares in the last quarter. RiverFront Investment Group LLC raised its stake in Chevron by 12.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 69,449 shares of the oil and gas company's stock worth $10,863,000 after buying an additional 7,759 shares during the period. Farmers National Bank grew its stake in Chevron by 0.5% in the second quarter. Farmers National Bank now owns 46,044 shares of the oil and gas company's stock valued at $7,202,000 after acquiring an additional 208 shares during the period. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Chevron during the second quarter valued at approximately $491,000. 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.

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