Chevron (NYSE:CVX) Trading Up 2.5% – Should You Buy?

Chevron Co. (NYSE:CVX) was up 2.5% during trading on Tuesday . The company traded as high as $144.25 and last traded at $144.24. Approximately 2,551,690 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 8,106,186 shares. The stock had previously closed at $140.76.

Wall Street Analyst Weigh In

CVX has been the subject of several research analyst reports. Scotiabank lowered shares of Chevron from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $160.00 to $143.00 in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Chevron from $173.00 to $164.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. TD Cowen decreased their price objective on Chevron from $155.00 to $150.00 and set a “hold” rating on the stock in a report on Monday, May 5th. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Mizuho cut their price objective on Chevron from $188.00 to $186.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $160.24.

Chevron Stock Up 2.2%

The business’s fifty day moving average price is $138.46 and its two-hundred day moving average price is $149.50. The firm has a market capitalization of $251.18 billion, a P/E ratio of 14.80, a PEG ratio of 1.46 and a beta of 0.83. 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) last posted its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.03. The business had revenue of $47.61 billion for the quarter, compared to analyst estimates of $49.05 billion. Chevron had a net margin of 8.71% and a return on equity of 11.44%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.93 EPS. Equities analysts expect that Chevron Co. will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 19th will be issued a dividend of $1.71 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.76%. Chevron’s dividend payout ratio is currently 78.17%.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently made changes to their positions in CVX. TFB Advisors LLC grew its position in Chevron by 2.4% in the 4th quarter. TFB Advisors LLC now owns 2,840 shares of the oil and gas company’s stock valued at $411,000 after acquiring an additional 66 shares in the last quarter. W.H. Cornerstone Investments Inc. increased its stake in shares of Chevron by 1.4% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 4,672 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 66 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Chevron by 0.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 15,240 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 66 shares in the last quarter. Berkeley Capital Partners LLC grew its holdings in shares of Chevron by 0.4% during the fourth quarter. Berkeley Capital Partners LLC now owns 17,757 shares of the oil and gas company’s stock worth $2,572,000 after buying an additional 67 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Chevron by 6.1% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,184 shares of the oil and gas company’s stock valued at $171,000 after buying an additional 68 shares during the last quarter. 72.42% of the stock is currently 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.