Insider Selling: Chevron Co. (NYSE:CVX) Director Sells 2,549 Shares of Stock

Chevron Co. (NYSE:CVX) Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the sale, the director now directly owns 7,647 shares of the company’s stock, valued at approximately $1,231,167. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Chevron Stock Up 1.3 %

Shares of Chevron stock traded up $2.05 during trading on Monday, reaching $162.30. 8,427,958 shares of the company traded hands, compared to its average volume of 8,484,045. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. Chevron Co. has a 1-year low of $139.62 and a 1-year high of $171.70. The company has a 50 day moving average price of $157.41 and a 200-day moving average price of $151.48. The firm has a market capitalization of $301.43 billion, a PE ratio of 14.93, a P/E/G ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. During the same quarter in the prior year, the company posted $3.55 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts expect that Chevron Co. will post 13.53 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 annualized dividend and a yield of 4.02%. Chevron’s payout ratio is 59.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CVX shares. Truist Financial dropped their target price on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Raymond James lifted their target price on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Barclays initiated coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price on the stock. Wells Fargo & Company boosted their price target on Chevron from $198.00 to $206.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Finally, Royal Bank of Canada boosted their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

Institutional Trading of Chevron

Institutional investors have recently made changes to their positions in the company. American Capital Advisory LLC grew its stake in shares of Chevron by 403.2% in the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in shares of Chevron in the 3rd quarter worth $26,000. Bare Financial Services Inc bought a new stake in shares of Chevron in the 4th quarter worth $27,000. Valley Forge Investment Consultants Inc. ADV grew its stake in shares of Chevron by 80.0% in the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 80 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth $30,000. Institutional investors own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.