Traders Sell Shares of Chevron (CVX) on Strength (CVX)
Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Wednesday. $70.41 million flowed into the stock on the tick-up and $170.08 million flowed out of the stock on the tick-down, for a money net flow of $99.67 million out of the stock. Of all companies tracked, Chevron had the 0th highest net out-flow for the day. Chevron traded up $0.25 for the day and closed at $119.93
A number of equities analysts recently issued reports on the company. Credit Suisse Group assumed coverage on Chevron in a report on Monday. They issued a “neutral” rating and a $123.00 target price on the stock. UBS set a $120.00 target price on Chevron and gave the stock a “neutral” rating in a report on Monday, December 4th. Wells Fargo & Company reiterated a “market perform” rating and set a $108.00 price target (up previously from $100.00) on shares of Chevron in a report on Tuesday, October 3rd. Jefferies Group reiterated a “buy” rating and set a $137.00 price target on shares of Chevron in a report on Thursday, October 19th. Finally, Zacks Investment Research upgraded Chevron from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Tuesday, October 31st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. Chevron presently has a consensus rating of “Hold” and an average price target of $121.22.
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 stock has a market capitalization of $227,791.91, a PE ratio of 33.59, a price-to-earnings-growth ratio of 3.95 and a beta of 1.21.
Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. Chevron 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 quarter in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 20.1% compared to the same quarter last year. equities research analysts predict that Chevron Corporation will post 4.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $4.32 annualized dividend and a dividend yield of 3.60%. Chevron’s dividend payout ratio is presently 125.95%.
In other Chevron news, Vice Chairman Michael K. Wirth sold 1,229 shares of the company’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 completion of the transaction, the insider now owns 1,229 shares of the company’s stock, valued at approximately $145,022. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. Insiders have sold a total of 314,000 shares of company stock valued at $36,540,822 in the last three months. 0.38% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Harbour Capital Advisors LLC grew its position in Chevron by 10,213.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares during the last quarter. Vanguard Group Inc. grew its position in Chevron by 2.9% during 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 acquiring an additional 3,920,240 shares during the last quarter. Capital World Investors grew its position in Chevron by 9.8% during 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 acquiring an additional 3,182,250 shares during the last quarter. Janus Henderson Group PLC grew its position in Chevron by 669.9% during the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Chevron by 305,886.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after acquiring an additional 2,612,270 shares during the last quarter. 63.93% of the stock is owned by hedge funds and other institutional investors.
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Chevron 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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