Chevron (NYSE:CVX) Shares Up 2.2% - Should You Buy?

Chevron Co. (NYSE:CVX - Get Free Report) was up 2.2% on Monday . The company traded as high as $143.71 and last traded at $141.56. Approximately 2,384,147 shares changed hands during trading, a decline of 70% from the average daily volume of 7,981,521 shares. The stock had previously closed at $138.49.

Analysts Set New Price Targets

CVX has been the topic of a number of research analyst reports. TD Cowen cut their price target on shares of Chevron from $155.00 to $150.00 and set a "hold" rating on the stock in a research report on Monday, May 5th. Raymond James reduced their target price on shares of Chevron from $180.00 to $175.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. UBS Group cut their price objective on shares of Chevron from $194.00 to $185.00 and set a "buy" rating for the company in a report on Monday, April 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $175.00 target price on shares of Chevron in a research note on Monday, February 3rd. Finally, HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and decreased their target price for the stock from $176.00 to $158.00 in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $160.24.

Chevron Stock Performance

The stock's 50-day moving average is $146.65 and its 200-day moving average is $151.76. The stock has a market cap of $248.06 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.83. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The oil and gas company reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.03. The company had revenue of $47.61 billion for the quarter, compared to analysts' expectations of $49.05 billion. Chevron had a return on equity of 11.44% and a net margin of 8.71%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 earnings per share. Analysts anticipate that Chevron Co. will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders 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 dividend yield of 4.82%. Chevron's dividend payout ratio is presently 78.17%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Woodline Partners LP boosted its stake in shares of Chevron by 40.7% during the 1st quarter. Woodline Partners LP now owns 141,200 shares of the oil and gas company's stock valued at $23,621,000 after buying an additional 40,832 shares during the period. McIlrath & Eck LLC lifted its position in Chevron by 35.2% during the 1st quarter. McIlrath & Eck LLC now owns 2,706 shares of the oil and gas company's stock worth $453,000 after acquiring an additional 705 shares during the last quarter. Logan Capital Management Inc. increased its holdings in shares of Chevron by 3.9% during the 1st quarter. Logan Capital Management Inc. now owns 182,650 shares of the oil and gas company's stock worth $30,556,000 after purchasing an additional 6,919 shares during the period. Peloton Wealth Strategists bought a new position in shares of Chevron during the 1st quarter worth about $233,000. Finally, Faithward Advisors LLC increased its stake in Chevron by 10.7% in the first quarter. Faithward Advisors LLC now owns 4,920 shares of the oil and gas company's stock valued at $823,000 after acquiring an additional 475 shares during the period. Institutional investors and hedge funds 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.