Chevron (CVX) Hits New 12-Month High at $124.79

Chevron Corporation (NYSE:CVX) shares reached a new 52-week high during trading on Thursday . The company traded as high as $124.79 and last traded at $120.89, with a volume of 6286600 shares changing hands. The stock had previously closed at $119.84.

A number of research analysts have commented on CVX shares. UBS set a $105.00 target price on shares of Chevron and gave the company a “neutral” rating in a research report on Wednesday, September 6th. Morgan Stanley upped their target price on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Citigroup upped their target price on shares of Chevron from $118.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Credit Suisse Group set a $123.00 target price on shares of Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Jefferies Group set a $130.00 target price on shares of Chevron and gave the company a “buy” rating in a research report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $123.54.

The stock has a market cap of $227,620.97, a PE ratio of 33.57, a PEG ratio of 3.95 and a beta of 1.21. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron had a net margin of 4.79% and a return on equity of 4.59%. The business’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 earnings per share. analysts forecast that Chevron Corporation will post 4.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were issued a $1.08 dividend. The ex-dividend date was Thursday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.46%. Chevron’s dividend payout ratio (DPR) is 125.95%.

In related news, VP R. Hewitt Pate sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the sale, the chief financial officer now directly owns 17,981 shares in the company, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,000 shares of company stock worth $36,540,822. 0.38% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of CVX. Vanguard Group Inc. increased its stake in Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after purchasing an additional 3,920,240 shares during the last quarter. BlackRock Inc. increased its stake in Chevron by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after purchasing an additional 1,975,865 shares during the last quarter. Capital World Investors increased its stake in Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after purchasing an additional 3,182,250 shares during the last quarter. Northern Trust Corp increased its stake in Chevron by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after purchasing an additional 157,021 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Chevron by 0.3% in the second quarter. Franklin Resources Inc. now owns 15,609,647 shares of the oil and gas company’s stock valued at $1,628,554,000 after purchasing an additional 49,083 shares during the last quarter. 63.77% of the stock is currently owned by hedge funds and other institutional investors.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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