Traders Buy Shares of Chevron (CVX) on Weakness

Investors purchased shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Thursday. $315.00 million flowed into the stock on the tick-up and $226.20 million flowed out of the stock on the tick-down, for a money net flow of $88.80 million into the stock. Of all equities tracked, Chevron had the 16th highest net in-flow for the day. Chevron traded down ($2.99) for the day and closed at $112.30

Several equities research analysts have weighed in on CVX shares. Morgan Stanley lifted their price target on shares of Chevron from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. Royal Bank of Canada set a $110.00 target price on shares of Chevron and gave the stock a “sell” rating in a research report on Wednesday, December 20th. Wells Fargo & Co decreased their target price on shares of Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Jefferies Group reissued a “buy” rating and set a $137.00 target price on shares of Chevron in a research report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Friday, November 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $130.30.

The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The stock has a market cap of $217,880.00, a PE ratio of 23.45, a PEG ratio of 2.21 and a beta of 1.15.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to the consensus estimate of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. analysts forecast that Chevron Co. will post 6.36 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, February 15th. This is a positive change from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is 89.26%.

In other news, EVP Michael K. Wirth sold 110,771 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the transaction, the executive vice president now owns 110,771 shares of the company’s stock, valued at approximately $12,868,267.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares in the company, valued at approximately $5,019,658. The disclosure for this sale can be found here. Insiders have sold a total of 287,271 shares of company stock worth $33,335,800 in the last ninety days. 0.38% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. First Heartland Consultants Inc. boosted its position in Chevron by 13.8% during the 2nd quarter. First Heartland Consultants Inc. now owns 7,915 shares of the oil and gas company’s stock valued at $826,000 after buying an additional 957 shares during the period. Park Avenue Securities LLC purchased a new stake in Chevron during the 2nd quarter valued at $502,000. Ferguson Wellman Capital Management Inc. boosted its position in Chevron by 0.9% during the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 660,102 shares of the oil and gas company’s stock valued at $68,868,000 after buying an additional 5,929 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in Chevron by 12.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 25,468 shares of the oil and gas company’s stock valued at $2,657,000 after buying an additional 2,858 shares during the period. Finally, Chickasaw Capital Management LLC boosted its position in Chevron by 0.9% during the 2nd quarter. Chickasaw Capital Management LLC now owns 10,776 shares of the oil and gas company’s stock valued at $1,124,000 after buying an additional 100 shares during the period. 64.06% 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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