Investors Sell Shares of Chevron Corp. (CVX) on Strength (CVX)
Traders sold shares of Chevron Corp. (NYSE:CVX) on strength during trading on Tuesday. $173.21 million flowed into the stock on the tick-up and $250.99 million flowed out of the stock on the tick-down, for a money net flow of $77.78 million out of the stock. Of all stocks tracked, Chevron Corp. had the 0th highest net out-flow for the day. Chevron Corp. traded up $1.39 for the day and closed at $106.78
CVX has been the topic of several recent research reports. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $106.39 price target on the stock. in a report on Monday, June 27th. Zacks Investment Research cut Chevron Corp. from a “hold” rating to a “sell” rating in a report on Monday, March 21st. Collins Stewart reiterated a “buy” rating on shares of Chevron Corp. in a report on Thursday, May 12th. Credit Suisse Group AG reiterated a “hold” rating and issued a $100.00 price target on shares of Chevron Corp. in a report on Monday, May 2nd. Finally, Argus reissued a “buy” rating on shares of Chevron Corp. in a research note on Tuesday, May 17th. Fourteen equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $97.66.
The stock has a market capitalization of $201.25 billion and a price-to-earnings ratio of 154.53. The stock’s 50 day moving average is $102.50 and its 200-day moving average is $94.61.
Chevron Corp. (NYSE:CVX) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by $0.29. The business earned $23.53 billion during the quarter, compared to analyst estimates of $21.47 billion. The business’s quarterly revenue was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.37 EPS. Analysts predict that Chevron Corp. will post $1.27 earnings per share for the current fiscal year.
In other Chevron Corp. news, Director Linnet F. Deily sold 869 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $103.27, for a total value of $89,741.63. Following the transaction, the director now owns 25,279 shares in the company, valued at $2,610,562.33. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Other hedge funds recently modified their holdings of the company. Oakworth Capital Inc. increased its stake in shares of Chevron Corp. by 60.9% in the fourth quarter. Oakworth Capital Inc. now owns 17,022 shares of the company’s stock valued at $1,531,000 after buying an additional 6,445 shares during the period. TIAA CREF Trust Co. FSB MO increased its stake in shares of Chevron Corp. by 3.3% in the fourth quarter. TIAA CREF Trust Co. FSB MO now owns 150,400 shares of the company’s stock valued at $13,530,000 after buying an additional 4,799 shares during the period. Wright Investors Service Inc. bought a new stake in shares of Chevron Corp. during the fourth quarter valued at approximately $1,286,000. First United Bank Trust increased its stake in shares of Chevron Corp. by 2.1% in the fourth quarter. First United Bank Trust now owns 17,344 shares of the company’s stock valued at $1,560,000 after buying an additional 353 shares during the period. Finally, Texan Capital Management increased its stake in shares of Chevron Corp. by 1.8% in the fourth quarter. Texan Capital Management now owns 13,160 shares of the company’s stock valued at $1,184,000 after buying an additional 229 shares during the period.
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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