Chevron (NYSE:CVX) Trading 1.3% Higher - Time to Buy?

Key Points

• Chevron's share price rose by 1.3% to $157.51, with trading volume down 80% from the average.
• Analysts have mixed views on Chevron, with a consensus rating of Hold and a price target average of $163.95.
• The company announced a quarterly dividend of $1.71 per share, resulting in an annualized yield of 4.3%.

Chevron Corporation (NYSE:CVX - Get Free Report)'s share price traded up 1.3% during mid-day trading on Friday . The stock traded as high as $157.85 and last traded at $157.51. 1,865,953 shares traded hands during trading, a decline of 80% from the average session volume of 9,306,172 shares. The stock had previously closed at $155.55.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Scotiabank reissued a "sector perform" rating and set a $160.00 target price (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Hsbc Global Res lowered Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. DZ Bank lowered Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target on the stock. in a research note on Tuesday, May 6th. Melius Research assumed coverage on Chevron in a research note on Wednesday. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $163.95.

Chevron Trading Up 1.5%

The stock has a market capitalization of $272.84 billion, a P/E ratio of 20.32, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87. 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 stock has a 50-day moving average price of $150.97 and a two-hundred day moving average price of $148.63.

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, beating analysts' consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion during the quarter, compared to analysts' expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's payout ratio is presently 88.03%.

Institutional Trading of Chevron

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% in the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the period. 10Elms LLP acquired a new stake in shares of Chevron during the fourth quarter worth about $29,000. Elequin Capital LP purchased a new position in Chevron during the first quarter worth about $31,000. Quaker Wealth Management LLC increased its holdings in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock valued at $31,000 after buying an additional 439 shares in the last quarter. Finally, Navigoe LLC purchased a new position in shares of Chevron during the 4th quarter worth approximately $33,000. Hedge funds and other 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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