Traders Sell Chevron (CVX) on Strength (CVX)

Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Thursday. $230.88 million flowed into the stock on the tick-up and $405.26 million flowed out of the stock on the tick-down, for a money net flow of $174.38 million out of the stock. Of all equities tracked, Chevron had the 0th highest net out-flow for the day. Chevron traded up $3.93 for the day and closed at $124.82

A number of brokerages have issued reports on CVX. Scotiabank reiterated a “buy” rating and issued a $130.00 price target on shares of Chevron in a research note on Friday. J P Morgan Chase & Co reiterated an “overweight” rating on shares of Chevron in a research note on Saturday, September 16th. Credit Suisse Group began coverage on Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price target for the company. Cowen reiterated an “outperform” rating and issued a $160.00 price target (up previously from $122.00) on shares of Chevron in a research note on Thursday. Finally, TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Chevron presently has an average rating of “Hold” and a consensus price target of $124.22.

The firm has a market capitalization of $237,079.84, a PE ratio of 36.44, a price-to-earnings-growth ratio of 4.12 and a beta of 1.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The firm had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 earnings per share. research analysts predict that Chevron Corporation will post 4.33 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given 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 is currently 125.95%.

In related news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Patricia E. Yarrington sold 13,143 shares of Chevron stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $115.01, for a total value of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares of the company’s stock, valued at approximately $2,067,994.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,000 shares of company stock valued at $36,540,822. 0.38% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Atlantic Trust Group LLC raised its stake in shares of Chevron by 8.7% during the third quarter. Atlantic Trust Group LLC now owns 464,115 shares of the oil and gas company’s stock valued at $54,534,000 after acquiring an additional 36,960 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Chevron during the third quarter valued at approximately $98,077,000. Parametric Portfolio Associates LLC raised its stake in shares of Chevron by 1.4% during the third quarter. Parametric Portfolio Associates LLC now owns 5,304,379 shares of the oil and gas company’s stock valued at $623,265,000 after acquiring an additional 74,650 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Chevron by 9.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,631,817 shares of the oil and gas company’s stock valued at $896,738,000 after acquiring an additional 638,516 shares in the last quarter. Finally, Institutional & Family Asset Management LLC raised its stake in shares of Chevron by 2.9% during the third quarter. Institutional & Family Asset Management LLC now owns 37,714 shares of the oil and gas company’s stock valued at $4,431,000 after acquiring an additional 1,064 shares in the last quarter. Institutional investors own 63.77% of the company’s stock.

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Chevron Company Profile

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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