Chevron Corp. (CVX) Short Interest Update
Chevron Corp. (NYSE:CVX) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 37,002,449 shares, a growth of 12.0% from the October 31st total of 33,030,202 shares. Based on an average daily volume of 8,635,161 shares, the days-to-cover ratio is currently 4.3 days. Currently, 2.0% of the company’s stock are short sold.
Shares of Chevron Corp. (NYSE:CVX) opened at 111.56 on Thursday. Chevron Corp. has a 52 week low of $75.33 and a 52 week high of $112.98. The stock has a 50 day moving average price of $105.64 and a 200 day moving average price of $102.91. The firm’s market cap is $210.60 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.29. The company earned $30.14 billion during the quarter, compared to analyst estimates of $29.71 billion. Chevron Corp. had a positive return on equity of 0.59% and a negative net margin of 1.34%. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. Equities analysts expect that Chevron Corp. will post $1.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a dividend of $1.08 per share. This is a positive change from Chevron Corp.’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, November 16th. This represents a $4.32 annualized dividend and a yield of 3.87%. Chevron Corp.’s dividend payout ratio (DPR) is currently -540.00%.
A number of research analysts recently weighed in on the company. Credit Suisse Group AG reissued a “neutral” rating and set a $105.00 target price on shares of Chevron Corp. in a report on Saturday, August 13th. Vetr lowered Chevron Corp. from a “hold” rating to a “sell” rating and set a $106.05 target price on the stock. in a report on Tuesday. Jefferies Group reissued a “buy” rating and set a $120.00 target price (up from $116.00) on shares of Chevron Corp. in a report on Tuesday, November 1st. Morgan Stanley raised Chevron Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $113.00 to $130.00 in a report on Tuesday, November 1st. Finally, Simmons raised Chevron Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Chevron Corp. presently has a consensus rating of “Buy” and an average target price of $108.42.
In other Chevron Corp. news, Director Linnet F. Deily sold 5,637 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total transaction of $593,406.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Pierre R. Breber sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $110.00, for a total value of $1,100,000.00. Following the transaction, the insider now directly owns 28,911 shares in the company, valued at approximately $3,180,210. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Hancock Holding Co. raised its stake in Chevron Corp. by 21.2% in the first quarter. Hancock Holding Co. now owns 27,740 shares of the company’s stock valued at $2,646,000 after buying an additional 4,855 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of Chevron Corp. by 5.8% in the first quarter. Thomaspartners Inc. now owns 1,653,697 shares of the company’s stock valued at $157,763,000 after buying an additional 90,811 shares during the period. Peregrine Asset Advisers Inc. raised its stake in shares of Chevron Corp. by 1.2% in the first quarter. Peregrine Asset Advisers Inc. now owns 4,385 shares of the company’s stock valued at $418,000 after buying an additional 51 shares during the period. TPH Asset Management LLC purchased a new stake in shares of Chevron Corp. during the first quarter valued at about $18,517,000. Finally, AMP Capital Investors Ltd raised its stake in shares of Chevron Corp. by 1.1% in the first quarter. AMP Capital Investors Ltd now owns 614,880 shares of the company’s stock valued at $58,567,000 after buying an additional 6,437 shares during the period. 61.22% of the stock is owned by institutional investors.
Chevron Corp. 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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