Chevron (NYSE:CVX) Trading 0.6% Higher - Still a Buy?

Chevron Co. (NYSE:CVX - Get Free Report) shares were up 0.6% on Thursday . The stock traded as high as $158.74 and last traded at $158.16. Approximately 2,095,607 shares were traded during trading, a decline of 71% from the average daily volume of 7,259,462 shares. The stock had previously closed at $157.23.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CVX. Piper Sandler decreased their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. Royal Bank of Canada restated an "outperform" rating and set a $175.00 price objective on shares of Chevron in a research note on Monday, February 3rd. DZ Bank raised shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price target for the company in a report on Tuesday, November 5th. Citigroup upgraded shares of Chevron from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $145.00 to $185.00 in a research report on Tuesday, November 26th. Finally, Raymond James decreased their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. Four equities research 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 company presently has a consensus rating of "Moderate Buy" and an average price target of $174.13.

Chevron Trading Down 1.2 %

The firm's 50-day simple moving average is $151.97 and its 200 day simple moving average is $150.99. The stock has a market capitalization of $282.00 billion, a P/E ratio of 16.14, a PEG ratio of 1.46 and a beta of 1.11. 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 - Get Free Report) last posted its quarterly earnings data 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 last year, the business posted $3.45 earnings per share. Equities research analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.71 dividend. The ex-dividend date is Friday, February 14th. This is an increase from Chevron's previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.36%. Chevron's dividend payout ratio is 70.37%.

Insiders Place Their Bets

In other news, VP Jeff B. Gustavson sold 9,325 shares of the company's stock in a transaction dated Friday, February 7th. The stock was 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 in the company, valued at approximately $161,192.50. This represents a 89.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Investors Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in CVX. Ascent Group LLC lifted its position in Chevron by 5.5% during the 4th quarter. Ascent Group LLC now owns 31,552 shares of the oil and gas company's stock worth $4,570,000 after acquiring an additional 1,659 shares during the last quarter. Putney Financial Group LLC bought a new stake in Chevron during the 4th quarter valued at approximately $383,000. Aurdan Capital Management LLC acquired a new stake in Chevron in the 4th quarter valued at approximately $5,164,000. Vermillion Wealth Management Inc. bought a new position in Chevron in the 4th quarter worth approximately $337,000. Finally, Forum Financial Management LP lifted its holdings in shares of Chevron by 12.8% during the fourth quarter. Forum Financial Management LP now owns 36,561 shares of the oil and gas company's stock worth $5,296,000 after buying an additional 4,160 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

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.