Chevron (NYSE:CVX) Shares Up 0.6% – Time to Buy?

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Raymond James boosted their price target on Chevron from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Citigroup raised Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a report on Tuesday, November 26th. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Tuesday, November 5th. Scotiabank reduced their price objective on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler dropped their target price on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.27.

Chevron Stock Down 4.5 %

The firm has a 50-day simple moving average of $153.19 and a 200 day simple moving average of $151.14. The stock has a market capitalization of $268.14 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.35 and a beta of 1.12. 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) 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 analysts’ consensus estimates 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 earnings per share. On average, equities research analysts forecast that Chevron Co. will post 10.18 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael K. Wirth sold 164,600 shares of the company’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 directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chevron

Several large investors have recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in shares of Chevron during the 3rd quarter valued at about $29,000. Rational Advisors LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $29,000. Darwin Wealth Management LLC bought a new position in shares of Chevron during the 3rd quarter worth approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Chevron in the 3rd quarter valued at $31,000. Finally, New Wave Wealth Advisors LLC acquired a new position in shares of Chevron during the 4th quarter valued at $39,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

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.