Traders Buy Chevron Corp. (CVX) on Weakness
Traders purchased shares of Chevron Corp. (NYSE:CVX) on weakness during trading hours on Wednesday. $157.19 million flowed into the stock on the tick-up and $141.45 million flowed out of the stock on the tick-down, for a money net flow of $15.74 million into the stock. Of all stocks tracked, Chevron Corp. had the 11th highest net in-flow for the day. Chevron Corp. traded down ($0.45) for the day and closed at $105.59
Several equities analysts recently issued reports on CVX shares. Vetr raised Chevron Corp. from a “sell” rating to a “hold” rating and set a $93.44 target price on the stock in a research report on Wednesday, March 23rd. Simmons upped their target price on Chevron Corp. to $84.00 in a research report on Friday, March 25th. Citigroup Inc. reissued an “outperform” rating on shares of Chevron Corp. in a research report on Friday, April 1st. Jefferies Group reissued a “buy” rating and issued a $110.00 target price on shares of Chevron Corp. in a research report on Monday, April 4th. Finally, Barclays PLC upped their target price on Chevron Corp. from $89.00 to $97.00 and gave the company an “equal weight” rating in a research report on Friday, April 8th. Fourteen analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $97.66.
The stock has a market capitalization of $199.01 billion and a price-to-earnings ratio of 152.81. The stock has a 50 day moving average price of $103.33 and a 200 day moving average price of $95.24.
Chevron Corp. (NYSE:CVX) last issued its quarterly earnings results on Friday, April 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.29. During the same quarter last year, the business posted $1.37 EPS. The firm had revenue of $23.53 billion for the quarter, compared to analyst estimates of $21.47 billion. The firm’s revenue for the quarter was down 31.9% on a year-over-year basis. Analysts forecast that Chevron Corp. will post $1.40 earnings per share for the current fiscal year.
In other news, Director Linnet F. Deily sold 869 shares of the business’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $103.27, for a total transaction of $89,741.63. Following the transaction, the director now directly owns 25,279 shares in the company, valued at $2,610,562.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Several hedge funds and institutional investors have recently modified their holdings of the company. Stellar Capital Management LLC raised 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 worth $1,024,000 after buying an additional 1,154 shares during the period. Johanson Financial Advisors Inc. purchased a new position in shares of Chevron Corp. during the fourth quarter worth about $1,033,000. Hamilton Point Investment Advisors LLC raised 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 during the last quarter. JFS Wealth Advisors LLC raised its position 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 last quarter. Finally, Hodges Capital Management Inc. raised its position in shares of Chevron Corp. by 6.6% in the fourth quarter. Hodges Capital Management Inc. now owns 13,412 shares of the company’s stock valued at $1,207,000 after buying an additional 832 shares during 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.
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