Chevron (NYSE:CVX) Shares Up 0.1% – Still a Buy?

Chevron Co. (NYSE:CVX) was up 0.1% during mid-day trading on Wednesday . The company traded as high as $156.58 and last traded at $156.36. Approximately 1,220,615 shares changed hands during trading, a decline of 83% from the average daily volume of 7,371,165 shares. The stock had previously closed at $156.21.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CVX shares. Raymond James lifted their price objective on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $185.00 in a report on Tuesday, November 26th. Scotiabank cut their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lifted their price target on Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Truist Financial lifted their price objective on Chevron from $160.00 to $164.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $175.27.

Chevron Price Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.80 and a current ratio of 1.07. The company has a 50-day moving average price of $153.46 and a 200-day moving average price of $151.20. The company has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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 net margin of 8.44% and a return on equity of 13.15%. During the same period last year, the business earned $3.45 earnings per share. On average, equities research analysts expect that Chevron Co. will post 10.18 EPS for the current fiscal year.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Institutional Investors Weigh In On Chevron

Several large investors have recently made changes to their positions in CVX. Plan Group Financial LLC lifted its holdings in Chevron by 8.8% during the 4th quarter. Plan Group Financial LLC now owns 9,280 shares of the oil and gas company’s stock valued at $1,344,000 after purchasing an additional 750 shares during the last quarter. Allied Investment Advisors LLC lifted its holdings in Chevron by 2.1% during the 4th quarter. Allied Investment Advisors LLC now owns 76,107 shares of the oil and gas company’s stock valued at $11,023,000 after purchasing an additional 1,571 shares during the last quarter. Northcape Wealth Management LLC lifted its holdings in Chevron by 30.5% during the 4th quarter. Northcape Wealth Management LLC now owns 3,031 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 709 shares during the last quarter. Atlas Legacy Advisors LLC acquired a new stake in Chevron during the 4th quarter valued at $571,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Chevron during the 4th quarter valued at $1,549,000. Institutional investors and hedge funds 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.