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

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

Analyst Ratings Changes

Several research firms have recently weighed in on CVX. Bank of America began coverage on shares of Chevron in a research report on Thursday, October 17th. They set a “buy” rating and a $168.00 price objective for the company. UBS Group raised their price objective on shares of Chevron from $194.00 to $195.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Chevron from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on shares of Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Chevron Stock Performance

The stock 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 firm’s 50-day moving average is $153.46 and its two-hundred day moving average is $151.20. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported $2.06 earnings per share 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 quarter in the prior year, the business posted $3.45 EPS. As a group, research analysts expect that Chevron Co. will post 10.18 EPS for the current year.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the transaction, the chief executive officer now owns 4,280 shares in the company, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The sale 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.

Hedge Funds Weigh In On Chevron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVX. Quarry LP grew its stake in shares of Chevron by 172.2% in the second quarter. Quarry LP now owns 411 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 260 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Chevron by 75.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 138,885 shares of the oil and gas company’s stock worth $21,724,000 after buying an additional 59,885 shares in the last quarter. Anchor Investment Management LLC boosted its stake in Chevron by 12.1% during the second quarter. Anchor Investment Management LLC now owns 41,459 shares of the oil and gas company’s stock worth $6,485,000 after buying an additional 4,478 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Chevron by 209.1% during the second quarter. Centaurus Financial Inc. now owns 32,190 shares of the oil and gas company’s stock worth $5,035,000 after buying an additional 21,777 shares in the last quarter. Finally, Mattson Financial Services LLC acquired a new stake in Chevron during the second quarter worth $3,976,000. 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.