Chevron (NYSE:CVX) Stock Price Up 0.5% – Still a Buy?

Chevron Co. (NYSE:CVX) shares were up 0.5% during trading on Monday . The stock traded as high as $166.17 and last traded at $165.54. Approximately 1,895,835 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 7,315,748 shares. The stock had previously closed at $164.75.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and boosted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler lowered their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Barclays reduced their price target on shares of Chevron from $174.00 to $171.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company dropped their price objective 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. Finally, UBS Group reduced their price objective on Chevron from $195.00 to $194.00 and set a “buy” 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 given a buy rating to the company. According to MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Stock Up 0.1 %

The stock has a market capitalization of $290.35 billion, a P/E ratio of 16.96, a PEG ratio of 1.46 and a beta of 1.08. The stock’s fifty day moving average is $156.29 and its two-hundred day moving average is $152.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX) last released its earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned $3.45 earnings per share. As a group, research analysts predict that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $1.71 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a yield of 4.15%. The ex-dividend date was Friday, February 14th. Chevron’s dividend payout ratio is currently 70.37%.

Insiders Place Their Bets

In other Chevron news, VP Jeff B. Gustavson sold 9,325 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $152.50, for a total value of $1,422,062.50. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Hedge Funds Weigh In On Chevron

Hedge funds have recently modified their holdings of the stock. State Street Corp grew its stake in shares of Chevron by 0.6% in the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock valued at $23,431,429,000 after buying an additional 874,962 shares in the last quarter. Nicholas Company Inc. grew its position in Chevron by 4.3% in the fourth 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 in the last quarter. Dale Q Rice Investment Management Ltd acquired a new position in shares of Chevron during the 4th quarter worth $594,000. Unified Investment Management bought a new position in shares of Chevron during the 4th quarter valued at $729,000. Finally, Capital Investment Counsel LLC lifted its stake in shares of Chevron by 4.5% in the 3rd quarter. Capital Investment Counsel LLC now owns 74,508 shares of the oil and gas company’s stock valued at $10,973,000 after purchasing an additional 3,177 shares during the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

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.