Chevron (NYSE:CVX) Trading Up 1.3% - Still a Buy?

Chevron Corporation (NYSE:CVX - Get Free Report) shares traded up 1.3% on Tuesday . The stock traded as high as $144.60 and last traded at $145.08. 1,955,347 shares were traded during trading, a decline of 76% from the average session volume of 8,225,724 shares. The stock had previously closed at $143.19.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CVX shares. BNP Paribas lowered shares of Chevron to a "cautious" rating in a research note on Tuesday, April 15th. Piper Sandler cut 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. Wells Fargo & Company reissued an "overweight" rating and issued a $165.00 target price (up previously from $164.00) on shares of Chevron in a report on Thursday, June 26th. Hsbc Global Res cut Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, TD Cowen cut their price target on Chevron from $155.00 to $150.00 and set a "hold" rating for the company in a research note on Monday, May 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $160.29.

Chevron Stock Up 1.6%

The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $140.56 and a two-hundred day simple moving average of $148.08. The firm has a market capitalization of $254.03 billion, a P/E ratio of 16.62, a P/E/G ratio of 2.51 and a beta of 0.83.

Chevron (NYSE:CVX - Get Free Report) last released its earnings results on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping the consensus estimate of $2.15 by $0.03. The firm had revenue of $47.61 billion for the quarter, compared to the consensus estimate of $49.05 billion. Chevron had a net margin of 7.76% and a return on equity of 10.73%. The company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.93 earnings per share. On average, equities analysts predict that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Monday, May 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Monday, May 19th. Chevron's payout ratio is 78.17%.

Institutional Investors Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of the business. IMG Wealth Management Inc. bought a new stake in shares of Chevron in the 4th quarter worth about $25,000. Life Planning Partners Inc purchased a new position in Chevron in the fourth quarter worth about $25,000. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in Chevron during the fourth quarter valued at approximately $29,000. Finally, 10Elms LLP purchased a new stake in Chevron during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

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.