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

Shares of Chevron Co. (NYSE:CVX - Get Free Report) shot up 0.6% during trading on Tuesday . The stock traded as high as $167.82 and last traded at $166.04. 1,967,906 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 7,337,986 shares. The stock had previously closed at $165.02.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Piper Sandler cut their target price on Chevron from $184.00 to $173.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. UBS Group decreased their target price on Chevron from $195.00 to $194.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Barclays lowered their target price on Chevron from $174.00 to $171.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Truist Financial decreased their price objective on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their target price on shares of Chevron from $188.00 to $184.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Chevron has an average rating of "Moderate Buy" and a consensus price target of $174.13.

Chevron Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The firm has a market cap of $292.52 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.46 and a beta of 1.08. The firm has a 50 day simple moving average of $157.01 and a 200 day simple moving average of $153.21.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same period in the prior year, the business posted $3.45 EPS. On average, equities research analysts predict that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Chevron's previous quarterly dividend of $1.63. Chevron's dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In related news, VP Jeff B. Gustavson sold 9,325 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $152.50, for a total value of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares in the company, valued at $161,192.50. The trade was a 89.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Chevron by 0.6% in the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the last quarter. Nicholas Company Inc. grew its position in Chevron by 4.3% during the 4th quarter. Nicholas Company Inc. now owns 80,025 shares of the oil and gas company's stock worth $11,591,000 after acquiring an additional 3,280 shares during the last quarter. Dale Q Rice Investment Management Ltd purchased a new position in Chevron in the 4th quarter worth approximately $594,000. Unified Investment Management bought a new stake in Chevron in the fourth quarter valued at approximately $729,000. Finally, ING Groep NV boosted its stake in shares of Chevron by 3,942.6% during the fourth quarter. ING Groep NV now owns 200,998 shares of the oil and gas company's stock valued at $29,113,000 after purchasing an additional 196,026 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.