Traders Sell Shares of Chevron Corporation (CVX) on Strength (CVX)
Investors sold shares of Chevron Corporation (NYSE:CVX) on strength during trading hours on Friday. $65.31 million flowed into the stock on the tick-up and $102.12 million flowed out of the stock on the tick-down, for a money net flow of $36.81 million out of the stock. Of all stocks tracked, Chevron Corporation had the 0th highest net out-flow for the day. Chevron Corporation traded up $0.44 for the day and closed at $118.64
A number of research firms have recently commented on CVX. BMO Capital Markets lowered shares of Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 price objective on the stock. in a research note on Wednesday. They noted that the move was a valuation call. Morgan Stanley upped their price objective on shares of Chevron Corporation from $120.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday. Societe Generale lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and upped their price objective for the company from $120.00 to $130.00 in a research note on Wednesday. Vetr lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price objective on the stock. in a research note on Monday, October 16th. Finally, Macquarie raised shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Chevron Corporation has a consensus rating of “Hold” and an average price target of $119.66.
The firm has a market cap of $224.82 billion, a PE ratio of 38.47 and a beta of 1.24. The firm has a 50-day moving average of $116.24 and a 200-day moving average of $108.72.
Chevron Corporation (NYSE:CVX) last announced its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the previous year, the business posted ($0.78) EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that Chevron Corporation will post $4.08 EPS for the current year.
In related news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total value of $3,060,000.00. Following the transaction, the vice president now owns 25,500 shares in the company, valued at approximately $3,060,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James William Johnson sold 31,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,812 shares of company stock worth $11,068,343. Company insiders own 0.38% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Chevron Corporation by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares in the last quarter. BlackRock Inc. boosted its stake in Chevron Corporation by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after purchasing an additional 1,975,865 shares in the last quarter. State Street Corp boosted its stake in Chevron Corporation by 1.1% in the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after purchasing an additional 1,261,078 shares in the last quarter. Capital World Investors boosted its stake in Chevron Corporation by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Chevron Corporation by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Institutional investors own 62.72% of the company’s stock.
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Chevron Corporation 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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