Chevron (NYSE:CVX) Director Sells $73,416,000.00 in Stock

Chevron Corporation (NYSE:CVX) Director John Hess sold 380,000 shares of Chevron stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the sale, the director owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chevron Stock Performance

Chevron stock traded up $0.50 on Friday, hitting $191.51. The company’s stock had a trading volume of 7,204,475 shares, compared to its average volume of 12,211,392. Chevron Corporation has a one year low of $134.06 and a one year high of $214.71. The firm has a market cap of $381.42 billion, a P/E ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $193.55 and a 200-day moving average price of $174.48.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to the consensus estimate of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $2.18 EPS. On average, equities analysts anticipate that Chevron Corporation will post 15.43 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.7%. Chevron’s dividend payout ratio (DPR) is currently 123.40%.

Hedge Funds Weigh In On Chevron

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Midwest Capital Advisors LLC bought a new position in shares of Chevron in the first quarter valued at about $25,000. Core Wealth Advisors LLC bought a new stake in Chevron during the 4th quarter worth about $26,000. Phillip James Consulting Co. acquired a new stake in Chevron in the 4th quarter valued at about $26,000. Basso Capital Management L.P. bought a new position in shares of Chevron in the fourth quarter worth about $27,000. Finally, Karpus Management Inc. bought a new position in shares of Chevron in the fourth quarter worth about $27,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CVX. Tudor Pickering raised Chevron from a “hold” rating to a “buy” rating and set a $225.00 target price for the company in a report on Thursday, April 9th. Zacks Research raised Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. BNP Paribas Exane upgraded Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective for the company in a research note on Friday, April 17th. UBS Group lifted their price objective on Chevron from $218.00 to $220.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Wells Fargo & Company boosted their target price on shares of Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $204.22.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher crude prices are improving Chevron’s earnings outlook and cash flow potential, especially for its Permian operations and associated gas production. More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Positive Sentiment: Morgan Stanley lifted its price target on Chevron to $214 and maintained an overweight rating, reinforcing a constructive Wall Street view. Benzinga / The Fly analyst update
• Neutral Sentiment: Chevron announced a fireside Q&A at Bernstein’s strategic conference next week, which is routine investor-relations activity and not a major business update. Advisory: Chevron to Participate in Fireside Q&A at Bernstein 42nd Annual Strategic Decisions Conference
• Neutral Sentiment: Chevron introduced next-generation Techron gasoline additive, a product refresh that is supportive of the brand but unlikely to move the stock on its own. Chevron Introduces Next-gen Techron in U.S. Chevron and Texaco Gasolines
• Negative Sentiment: Governor Newsom’s call for Californians to avoid Chevron adds political and reputational pressure, potentially weighing on sentiment around the stock. Gavin Newsom takes rare step of telling Californians to avoid Chevron

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.