Investors Sell Shares of Chevron (CVX) on Strength (CVX)

Investors sold shares of Chevron Co. (NYSE:CVX) on strength during trading hours on Friday. $246.69 million flowed into the stock on the tick-up and $414.05 million flowed out of the stock on the tick-down, for a money net flow of $167.36 million out of the stock. Of all equities tracked, Chevron had the 0th highest net out-flow for the day. Chevron traded up $1.20 for the day and closed at $113.50

CVX has been the subject of a number of research analyst reports. Wolfe Research raised shares of Chevron from a “market perform” rating to an “outperform” rating in a research note on Monday, October 16th. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $124.92 target price for the company. in a research note on Monday, October 16th. Macquarie raised shares of Chevron from a “neutral” rating to an “outperform” rating and set a $135.00 target price for the company in a research note on Tuesday, October 17th. BMO Capital Markets lowered shares of Chevron from an “outperform” rating to a “market perform” rating and set a $120.00 target price for the company. in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Societe Generale lowered shares of Chevron from a “buy” rating to a “hold” rating and upped their target price for the stock from $120.00 to $130.00 in a research note on Wednesday, October 18th. Two equities 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 given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $130.30.

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $215,580.00, a P/E ratio of 23.45, a P/E/G ratio of 2.23 and a beta of 1.15.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 8.46% and a net margin of 8.57%. The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. equities analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current fiscal year.

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

In other news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $116.85, for a total value of $2,716,762.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael K. Wirth sold 110,771 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the sale, the executive vice president now directly owns 110,771 shares in the company, valued at $12,868,267.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 287,271 shares of company stock valued at $33,335,800. Company insiders own 0.38% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Valley National Advisers Inc. raised its holdings in shares of Chevron by 0.4% in the 2nd quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 11 shares during the period. Deschutes Portfolio Strategy LLC raised its holdings in Chevron by 0.5% in the 2nd quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 13 shares during the period. Regis Management CO LLC raised its holdings in Chevron by 0.4% in the 2nd quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after acquiring an additional 14 shares during the period. Keel Point LLC raised its holdings in Chevron by 0.5% in the 2nd quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after acquiring an additional 14 shares during the period. Finally, FCG Advisors LLC raised its holdings in Chevron by 0.4% in the 2nd quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after acquiring an additional 15 shares during the period. 64.06% of the stock is currently owned by institutional investors.

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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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