Chevron (NYSE:CVX) Trading 1.7% Higher – Still a Buy?

Chevron Co. (NYSE:CVX) shares shot up 1.7% during mid-day trading on Friday . The stock traded as high as $140.24 and last traded at $137.68. 8,423,604 shares changed hands during mid-day trading, an increase of 6% from the average session volume of 7,913,168 shares. The stock had previously closed at $135.36.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $175.00 price target on shares of Chevron in a research note on Monday, February 3rd. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $160.00 to $143.00 in a research report on Friday, April 11th. Raymond James lowered their price target on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research report on Monday, February 3rd. BNP Paribas lowered shares of Chevron to a “cautious” rating in a research note on Tuesday. Finally, Truist Financial dropped their target price on Chevron from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.50.

Chevron Stock Performance

The company’s 50-day moving average is $153.94 and its two-hundred day moving average is $153.50. The company has a market capitalization of $242.39 billion, a P/E ratio of 14.16, a PEG ratio of 1.46 and a beta of 0.93. 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) last issued its quarterly earnings results 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 in the prior year, the business posted $3.45 earnings per share. Equities analysts anticipate that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $1.71 dividend. This is a boost from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is presently 70.37%.

Insider Activity at Chevron

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the transaction, the vice president now directly owns 1,057 shares in the company, valued at $161,192.50. This trade represents a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently made changes to their positions in the business. San Luis Wealth Advisors LLC lifted its stake in Chevron by 32.1% in the first quarter. San Luis Wealth Advisors LLC now owns 9,850 shares of the oil and gas company’s stock worth $1,648,000 after purchasing an additional 2,391 shares during the last quarter. Global Trust Asset Management LLC boosted its holdings in Chevron by 16.9% during the 1st quarter. Global Trust Asset Management LLC now owns 7,706 shares of the oil and gas company’s stock valued at $1,289,000 after acquiring an additional 1,115 shares during the period. Bell Bank boosted its holdings in Chevron by 4.1% during the 1st quarter. Bell Bank now owns 55,017 shares of the oil and gas company’s stock valued at $9,204,000 after acquiring an additional 2,166 shares during the period. Lesa Sroufe & Co bought a new position in Chevron during the 1st quarter worth approximately $410,000. Finally, Chicago Capital LLC lifted its position in Chevron by 42.1% in the first quarter. Chicago Capital LLC now owns 10,995 shares of the oil and gas company’s stock valued at $1,839,000 after purchasing an additional 3,260 shares during the last quarter. Hedge funds and other 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.