Chevron (NYSE:CVX) Trading Up 0.6% – What’s Next?

Chevron Co. (NYSE:CVX) shares were up 0.6% during mid-day trading on Thursday . The company traded as high as $157.45 and last traded at $156.69. Approximately 1,804,135 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 7,300,691 shares. The stock had previously closed at $155.69.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Chevron from $160.00 to $164.00 and gave the company a “hold” rating in a research note on Monday, January 13th. Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. Piper Sandler cut their price target on Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. UBS Group increased their price objective on Chevron from $194.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Bank of America initiated coverage on Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Stock Performance

The company has a market cap of $268.14 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $153.19 and its two-hundred day moving average is $151.14.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 13.15% and a net margin of 8.44%. During the same quarter in the previous year, the business posted $3.45 EPS. Equities analysts predict that Chevron Co. will post 10.18 EPS for the current year.

Insider Buying and Selling at Chevron

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently made changes to their positions in CVX. Legacy Investment Solutions LLC purchased a new stake in Chevron during the 3rd quarter worth about $29,000. Rational Advisors LLC purchased a new stake in shares of Chevron in the third quarter worth about $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC purchased a new position in Chevron during the third quarter valued at approximately $31,000. Finally, New Wave Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth approximately $39,000. 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.