Chevron (NYSE:CVX) Director John Hess Sells 710,665 Shares of Stock

Chevron Corporation (NYSE:CVX) Director John Hess sold 710,665 shares of Chevron stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.10, for a total transaction of $137,940,076.50. Following the sale, the director owned 363,711 shares of the company’s stock, valued at approximately $70,596,305.10. The trade was a 66.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Chevron Price Performance

NYSE CVX traded down $3.92 during mid-day trading on Wednesday, hitting $186.48. The stock had a trading volume of 8,252,004 shares, compared to its average volume of 11,083,821. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $214.71. The company has a market cap of $371.40 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 0.60 and a beta of 0.49. The company has a 50 day simple moving average of $182.09 and a 200 day simple moving average of $185.49. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, topping the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The business had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business’s revenue for the quarter was up 57.4% compared to the same quarter last year. Equities analysts forecast that Chevron Corporation will post 15.66 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 annualized dividend and a dividend yield of 3.8%. Chevron’s dividend payout ratio is presently 68.26%.

Wall Street Analysts Forecast Growth

CVX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective 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. Piper Sandler started coverage on shares of Chevron in a research note on Thursday, July 23rd. They set an “overweight” rating and a $207.00 price objective for the company. Bank of America upped their price objective on Chevron from $210.00 to $227.00 and gave the stock a “buy” rating in a report on Tuesday, July 28th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $216.00 target price on shares of Chevron in a research report on Friday, July 10th. Finally, Barclays boosted their price target on Chevron from $213.00 to $216.00 and gave the company an “equal weight” rating in a research report on Monday. Eighteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.48.

Trending Headlines about Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron’s second-quarter results showed revenue of $70.06 billion and net income of $12.07 billion, supported by higher production, cost reductions and stronger refining margins. The company also maintained its quarterly dividend at $1.78 per share, reinforcing its income appeal. Chevron’s war-boosted margins and cash flows
• Positive Sentiment: TD Cowen raised its Chevron price target from $200 to $205 while retaining a Hold rating, implying potential upside from the recent trading level. Separate reports from Sanford C. Bernstein and Barclays also said Chevron’s stock is expected to rise. TD Cowen price-target report
• Positive Sentiment: Chevron is among the S&P 500 companies expected to generate substantial free cash flow this year. Strong cash generation could support dividends, buybacks, debt management and investor interest. Stocks with strong expected cash flow
• Neutral Sentiment: Chief Executive Mike Wirth said Chevron is evaluating a potential pipeline route through Iraq toward Syria or Turkey to bypass the Strait of Hormuz. The concept could improve future Middle East supply flexibility, but it remains exploratory and carries significant geopolitical and execution risks. Chevron evaluates pipeline route around Strait of Hormuz
• Negative Sentiment: President Donald Trump criticized Chevron and ExxonMobil for making excessive profits as U.S. gasoline prices exceed $4 per gallon, calling for lower consumer prices and suggesting companies should return some profits to the public. The comments raise the risk of political pressure, windfall-profit measures or margin constraints. Trump criticizes Exxon and Chevron
• Negative Sentiment: Related scrutiny of oil companies’ dealings with Venezuelan crude adds reputational and regulatory uncertainty, although the cited report identifies Phillips 66—not Chevron—as a major buyer. Phillips 66 and Venezuelan crude report

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVX. State Street Corp boosted its holdings in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc raised its stake in shares of Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after purchasing an additional 8,091,570 shares during the period. Geode Capital Management LLC raised its stake in shares of Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after purchasing an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Chevron by 5.1% during the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

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.