Chevron (NYSE:CVX) Stock Price Up 0.4% - Still a Buy?

Chevron Co. (NYSE:CVX - Get Free Report) traded up 0.4% on Friday . The stock traded as high as $154.34 and last traded at $150.95. 3,377,535 shares were traded during mid-day trading, a decline of 46% from the average session volume of 6,197,917 shares. The stock had previously closed at $150.30.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. DZ Bank upgraded shares of Chevron from a "hold" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Tuesday, November 5th. Barclays upped their price target on shares of Chevron from $168.00 to $174.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Scotiabank lowered their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada upped their target price on Chevron from $170.00 to $175.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Finally, Citigroup raised Chevron from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $174.60.

Chevron Stock Up 2.0 %

The business's 50 day moving average price is $153.68 and its 200 day moving average price is $151.08. The firm 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 debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The business had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. During the same period in the prior year, the company posted $3.05 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Chevron Co. will post 10.5 EPS for the current 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 4.25%. The ex-dividend date was Monday, November 18th. Chevron's payout ratio is 71.65%.

Insider Activity

In other Chevron 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 transaction, the chief executive officer now directly owns 4,280 shares of the company's stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CVX. Legacy Investment Solutions LLC acquired a new position in shares of Chevron during the third quarter valued at approximately $29,000. Rational Advisors LLC acquired a new position in Chevron in the 3rd quarter valued at $29,000. Darwin Wealth Management LLC purchased a new position in Chevron in the 3rd quarter valued at $30,000. RPg Family Wealth Advisory LLC acquired a new stake in Chevron during the 3rd quarter worth $31,000. Finally, Cyrus J. Lawrence LLC grew its holdings in shares of Chevron by 66.7% during the second quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company's stock worth $39,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

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.