Chevron (NYSE:CVX) Trading Up 4% – Still a Buy?

Shares of Chevron Co. (NYSE:CVX) traded up 4% during mid-day trading on Friday . The company traded as high as $155.93 and last traded at $154.74. 3,907,754 shares changed hands during trading, a decline of 49% from the average session volume of 7,626,576 shares. The stock had previously closed at $148.82.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays lowered their price target on Chevron from $185.00 to $168.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $170.00 price target on shares of Chevron in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their price target on Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a research report on Friday, September 27th. Truist Financial lowered their price target on Chevron from $154.00 to $150.00 and set a “hold” rating for the company in a research report on Monday, September 30th. Finally, Sanford C. Bernstein downgraded Chevron from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $183.00 to $167.00 in a research report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $173.07.

Chevron Stock Performance

The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $146.96 and a 200 day moving average of $152.96. The firm has a market cap of $279.95 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 3.29 and a beta of 1.09.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 2nd. The oil and gas company reported $2.55 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.38). Chevron had a return on equity of 13.70% and a net margin of 9.31%. The business had revenue of $51.18 billion during the quarter, compared to analyst estimates of $48.68 billion. During the same quarter last year, the firm posted $3.08 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Chevron Co. will post 10.74 EPS for the current fiscal year.

Institutional Trading of Chevron

Institutional investors and hedge funds have recently bought and sold shares of the company. Rational Advisors LLC acquired a new stake in Chevron during the third quarter valued at approximately $29,000. Anfield Capital Management LLC raised its position in shares of Chevron by 118.0% during the 2nd quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 118 shares during the period. Cyrus J. Lawrence LLC raised its position in shares of Chevron by 66.7% during the 2nd quarter. Cyrus J. Lawrence LLC now owns 250 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Livelsberger Financial Advisory bought a new position in Chevron in the 3rd quarter worth approximately $47,000. Finally, Krane Funds Advisors LLC bought a new position in Chevron in the 3rd quarter worth approximately $47,000. 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.