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

Shares of Chevron Co. (NYSE:CVX - Get Free Report) traded up 1.3% during mid-day trading on Tuesday . The company traded as high as $140.19 and last traded at $139.70. 2,427,851 shares traded hands during trading, a decline of 70% from the average session volume of 8,088,579 shares. The stock had previously closed at $137.84.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler decreased their price objective on Chevron from $173.00 to $162.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. UBS Group decreased their price target on Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a research note on Monday, April 7th. DZ Bank downgraded Chevron from a "buy" rating to a "sell" rating and set a $130.00 price target for the company. in a report on Tuesday, May 6th. HSBC downgraded shares of Chevron from a "buy" rating to a "hold" rating and cut their price objective for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Finally, Truist Financial lowered their target price on shares of Chevron from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $160.24.

Chevron Price Performance

The firm has a market cap of $240.06 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The stock has a 50 day simple moving average of $140.16 and a two-hundred day simple moving average of $150.11. 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 - Get Free Report) 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 the consensus estimate of $2.15 by $0.03. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The company had revenue of $47.61 billion during the quarter, compared to analysts' expectations of $49.05 billion. During the same period last year, the business earned $2.93 earnings per share. Chevron's quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Chevron Co. will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, May 19th. This represents a $6.84 annualized dividend and a yield of 4.98%. Chevron's dividend payout ratio is presently 78.17%.

Institutional Investors Weigh In On Chevron

Several hedge funds have recently modified their holdings of the company. Invst LLC purchased a new stake in shares of Chevron during the 1st quarter valued at approximately $892,000. Modern Wealth Management LLC lifted its position in shares of Chevron by 8.9% during the first quarter. Modern Wealth Management LLC now owns 112,588 shares of the oil and gas company's stock worth $18,835,000 after purchasing an additional 9,186 shares in the last quarter. Nova Wealth Management Inc. grew its holdings in shares of Chevron by 102.6% in the first quarter. Nova Wealth Management Inc. now owns 466 shares of the oil and gas company's stock valued at $78,000 after purchasing an additional 236 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Chevron by 25.7% during the 1st quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company's stock worth $115,887,000 after buying an additional 142,662 shares during the period. Finally, Silicon Valley Capital Partners lifted its holdings in Chevron by 2.2% during the 1st quarter. Silicon Valley Capital Partners now owns 6,915 shares of the oil and gas company's stock worth $1,148,000 after buying an additional 149 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.