Traders Sell Chevron Corporation (CVX) on Strength Following Insider Selling
Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Friday after an insider sold shares in the company. $64.19 million flowed into the stock on the tick-up and $165.86 million flowed out of the stock on the tick-down, for a money net flow of $101.67 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 $0.14 for the day and closed at $114.71Specifically, CFO Patricia E. Yarrington sold 13,143 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $115.01, for a total transaction of $1,511,576.43. Following the completion of the transaction, the chief financial officer now owns 17,981 shares in the company, valued at approximately $2,067,994.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $118.00, for a total value of $145,022.00. Following the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last quarter, insiders acquired 41,000 shares of company stock valued at $5,420 and sold 63,122 shares valued at $7,433,361. 0.38% of the stock is currently owned by company insiders.
Several research firms recently commented on CVX. Credit Suisse Group set a $123.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Friday, August 25th. Barclays PLC upgraded Chevron Corporation to an “overweight” rating in a research report on Wednesday, October 11th. BMO Capital Markets set a $120.00 target price on Chevron Corporation and gave the stock a “buy” rating in a research report on Sunday, July 30th. Vetr downgraded Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 target price for the company. in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded Chevron Corporation from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $120.54.
The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $217,610.00, a P/E ratio of 32.75, a P/E/G ratio of 3.91 and a beta of 1.22.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion during the quarter, compared to analysts’ expectations of $34.06 billion. During the same period in the previous year, the firm earned $0.68 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. equities research analysts predict that Chevron Corporation will post 4.28 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.77%. Chevron Corporation’s dividend payout ratio (DPR) is presently 125.95%.
Institutional investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. acquired a new stake in shares of Chevron Corporation during the second quarter worth $106,000. Thompson Davis & CO. Inc. grew its stake in Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after acquiring an additional 191 shares during the period. Winfield Associates Inc. grew its stake in Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 63 shares during the period. Daiwa SB Investments Ltd. grew its stake in Chevron Corporation by 438.5% in the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 1,140 shares during the period. Finally, Acrospire Investment Management LLC grew its stake in Chevron Corporation by 133.3% in the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 800 shares during the period. 63.03% of the stock is owned by institutional investors and hedge funds.
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About Chevron Corporation
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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