Chevron (NYSE:CVX) Trading Up 0.5% - Still a Buy?

Chevron Co. (NYSE:CVX - Get Free Report)'s share price shot up 0.5% during trading on Wednesday . The stock traded as high as $161.15 and last traded at $160.38. 803,463 shares were traded during mid-day trading, a decline of 89% from the average session volume of 7,626,803 shares. The stock had previously closed at $159.60.

Wall Street Analysts Forecast Growth

CVX has been the subject of several analyst reports. Mizuho reduced their price target on Chevron from $205.00 to $189.00 and set an "outperform" rating for the company in a report on Monday, September 16th. Truist Financial lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, November 4th. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a "buy" rating and a $168.00 price target on the stock. Scotiabank decreased their price objective on shares of Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their target price on Chevron from $196.00 to $169.00 and set an "overweight" rating on the stock in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.93.

Chevron Stock Performance

The business has a fifty day simple moving average of $150.23 and a two-hundred day simple moving average of $152.57. The company has a market cap of $289.12 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.63 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 - Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The company had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter last 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 10.55 EPS for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's payout ratio is 71.65%.

Insider Buying and Selling

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, 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 document filed with the SEC, which is available through this hyperlink. 0.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Marietta Wealth Management LLC grew its position in shares of Chevron by 10.9% during the third 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 boosted its stake in Chevron by 19.6% in 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 during the period. RPG Investment Advisory LLC grew its holdings 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 valued at $17,844,000 after buying an additional 3,933 shares in the last quarter. Garner Asset Management Corp raised its position in shares of Chevron by 14.5% during the second quarter. Garner Asset Management Corp now owns 19,997 shares of the oil and gas company's stock valued at $3,128,000 after buying an additional 2,530 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in shares of Chevron by 3.2% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 114,961 shares of the oil and gas company's stock valued at $16,930,000 after buying an additional 3,561 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.

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