Investors Buy Shares of Chevron Corp. (CVX) on Weakness
Traders purchased shares of Chevron Corp. (NYSE:CVX) on weakness during trading on Wednesday. $162.56 million flowed into the stock on the tick-up and $119.04 million flowed out of the stock on the tick-down, for a money net flow of $43.52 million into the stock. Of all stocks tracked, Chevron Corp. had the 11th highest net in-flow for the day. Chevron Corp. traded down ($0.13) for the day and closed at $106.65
A number of analysts have issued reports on CVX shares. Simmons raised their target price on Chevron Corp. to $84.00 in a research note on Friday, March 25th. Jefferies Group reaffirmed a “buy” rating and issued a $110.00 target price on shares of Chevron Corp. in a research note on Monday, April 4th. Vetr raised Chevron Corp. from a “hold” rating to a “buy” rating and set a $99.90 target price for the company in a research note on Thursday, March 31st. Collins Stewart reiterated a “buy” rating on shares of Chevron Corp. in a report on Thursday, May 12th. Finally, Argus reiterated a “buy” rating on shares of Chevron Corp. in a report on Tuesday, May 17th. Fourteen equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $97.66.
The firm’s 50 day moving average price is $102.68 and its 200-day moving average price is $94.70. The firm has a market cap of $201.00 billion and a PE ratio of 154.34.
Chevron Corp. (NYSE:CVX) last issued its earnings results on Friday, April 29th. The company reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.29. During the same period in the previous year, the business posted $1.37 earnings per share. The firm earned $23.53 billion during the quarter, compared to analyst estimates of $21.47 billion. The firm’s revenue for the quarter was down 31.9% compared to the same quarter last year. Analysts anticipate that Chevron Corp. will post $1.31 EPS for the current year.
In other news, Director Linnet F. Deily sold 869 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 25,279 shares of the company’s stock, valued at $2,610,562.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Several hedge funds have modified their holdings of the company. Stellar Capital Management LLC boosted its stake in shares of Chevron Corp. by 11.3% in the fourth quarter. Stellar Capital Management LLC now owns 11,382 shares of the company’s stock valued at $1,024,000 after buying an additional 1,154 shares during the period. Johanson Financial Advisors Inc. acquired a new stake in shares of Chevron Corp. during the fourth quarter valued at approximately $1,033,000. Texan Capital Management boosted 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. Hamilton Point Investment Advisors LLC boosted its stake in shares of Chevron Corp. by 9.8% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 13,212 shares of the company’s stock valued at $1,189,000 after buying an additional 1,175 shares during the period. Finally, JFS Wealth Advisors LLC boosted its stake in shares of Chevron Corp. by 4.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 13,307 shares of the company’s stock valued at $1,197,000 after buying an additional 553 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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