Chevron (NYSE:CVX) Trading Up 2.2% – Should You Buy?

Chevron Co. (NYSE:CVX) shares traded up 2.2% on Monday . The company traded as high as $143.71 and last traded at $141.56. 2,384,147 shares were traded during mid-day trading, a decline of 70% from the average session volume of 7,981,521 shares. The stock had previously closed at $138.49.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. DZ Bank lowered shares of Chevron from a “buy” rating to a “sell” rating and set a $130.00 target price on the stock. in a research note on Tuesday, May 6th. UBS Group cut their price target on shares of Chevron from $194.00 to $185.00 and set a “buy” rating for the company in a report on Monday, April 7th. Barclays downgraded shares of Chevron from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $171.00 to $152.00 in a report on Wednesday, April 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $124.00 price target (down previously from $156.00) on shares of Chevron in a research report on Wednesday, April 23rd. Finally, Raymond James cut their target price on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating on the stock in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $161.25.

Chevron Price Performance

The stock has a market cap of $249.12 billion, a PE ratio of 14.56, a PEG ratio of 1.46 and a beta of 0.83. The company has a 50-day simple moving average of $147.91 and a 200-day simple moving average of $152.07. 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 announced its quarterly earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The business had revenue of $47.61 billion during the quarter, compared to analysts’ expectations of $49.05 billion. During the same quarter last year, the business posted $2.93 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. Sell-side analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 19th will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Monday, May 19th. Chevron’s dividend payout ratio is presently 78.17%.

Institutional Trading of Chevron

A number of hedge funds have recently added to or reduced their stakes in the business. Regent Peak Wealth Advisors LLC lifted its stake in shares of Chevron by 4.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,117 shares of the oil and gas company’s stock valued at $596,000 after purchasing an additional 168 shares in the last quarter. Czech National Bank lifted its stake in shares of Chevron by 4.6% in the 4th quarter. Czech National Bank now owns 362,358 shares of the oil and gas company’s stock valued at $52,484,000 after purchasing an additional 15,868 shares in the last quarter. Aprio Wealth Management LLC lifted its stake in shares of Chevron by 10.9% in the 4th quarter. Aprio Wealth Management LLC now owns 5,047 shares of the oil and gas company’s stock valued at $731,000 after purchasing an additional 495 shares in the last quarter. Matrix Trust Co lifted its stake in shares of Chevron by 3.0% in the 4th quarter. Matrix Trust Co now owns 8,453 shares of the oil and gas company’s stock valued at $1,224,000 after purchasing an additional 248 shares in the last quarter. Finally, Clark & Stuart Inc acquired a new position in shares of Chevron in the 4th quarter valued at about $2,234,000. 72.42% of the stock is owned by institutional investors and hedge funds.

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.