Chevron (NYSE:CVX) Trading 1.1% Higher - Should You Buy?

Key Points

• Chevron's stock price increased by 1.1% during mid-day trading, reaching a high of $160.49 before trading at $159.15.
• Analysts have raised Chevron's price targets, with UBS Group increasing theirs from $186.00 to $197.00 and maintaining a "buy" rating; the average price target for the stock is currently $165.05.
• The company declared a quarterly dividend of $1.71 per share, representing a annualized dividend yield of 4.3% and a dividend payout ratio of 88.03%.

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price traded up 1.1% during mid-day trading on Wednesday . The stock traded as high as $160.49 and last traded at $159.15. 6,044,928 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 9,166,277 shares. The stock had previously closed at $157.42.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $160.00 price target (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Chevron has an average rating of "Hold" and an average price target of $165.05.

Chevron Stock Performance

The stock has a market cap of $275.00 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 1.96 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company's 50 day simple moving average is $155.46 and its 200 day simple moving average is $149.02.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business's revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.55 EPS. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron's dividend payout ratio (DPR) is currently 88.03%.

Insider Activity at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Hedge Funds Weigh In On Chevron

Institutional investors and hedge funds have recently bought and sold shares of the stock. White Knight Strategic Wealth Advisors LLC increased its holdings in Chevron by 3.0% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company's stock valued at $319,000 after buying an additional 65 shares during the period. Rakuten Securities Inc. increased its holdings in Chevron by 7.4% in the 2nd quarter. Rakuten Securities Inc. now owns 961 shares of the oil and gas company's stock valued at $138,000 after buying an additional 66 shares during the period. Analyst IMS Investment Management Services Ltd. increased its holdings in Chevron by 1.0% in the 2nd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company's stock valued at $966,000 after buying an additional 67 shares during the period. Greenfield Savings Bank increased its holdings in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock valued at $1,663,000 after buying an additional 68 shares during the period. Finally, Atwater Malick LLC increased its holdings in Chevron by 2.4% in the 2nd quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock valued at $413,000 after buying an additional 68 shares during the period. Institutional investors own 72.42% of the company's stock.

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.

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