Traders Sell Chevron Corp. (CVX) on Strength (CVX)
Traders sold shares of Chevron Corp. (NYSE:CVX) on strength during trading on Wednesday. $82.25 million flowed into the stock on the tick-up and $133.03 million flowed out of the stock on the tick-down, for a money net flow of $50.78 million out of the stock. Of all equities tracked, Chevron Corp. had the 6th highest net out-flow for the day. Chevron Corp. traded up $0.52 for the day and closed at $102.20
A number of equities analysts have issued reports on the company. Vetr cut Chevron Corp. from a “buy” rating to a “hold” rating and set a $107.24 target price for the company. in a report on Thursday, August 18th. Credit Suisse Group AG reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Chevron Corp. in a report on Saturday, August 13th. Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Piper Jaffray Cos. raised Chevron Corp. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Thirteen investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $101.26.
The stock has a 50 day moving average price of $103.10 and a 200-day moving average price of $98.45. The stock’s market capitalization is $192.80 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, July 29th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of $0.32 by $1.10. During the same period last year, the business earned $0.30 EPS. The firm earned $29.28 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Chevron Corp.’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, analysts predict that Chevron Corp. will post $1.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be paid a $1.07 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $4.28 annualized dividend and a dividend yield of 4.19%.
In other news, insider Michael K. Wirth sold 125,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $100.47, for a total value of $12,558,750.00. Following the completion of the sale, the insider now directly owns 4,222 shares in the company, valued at approximately $424,184.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pierre R. Breber sold 21,000 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $98.77, for a total value of $2,074,170.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of CVX. Stellar Capital Management LLC increased its position 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 in the last quarter. Johanson Financial Advisors Inc. purchased a new position in shares of Chevron Corp. during the fourth quarter valued at $1,033,000. Private Capital Management Inc. purchased a new position in shares of Chevron Corp. during the fourth quarter valued at $1,187,000. Hamilton Point Investment Advisors LLC increased its position 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 in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its position in shares of Chevron Corp. by 3.0% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 15,788 shares of the company’s stock valued at $1,420,000 after buying an additional 455 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.