Traders Sell Shares of Chevron Corporation (CVX) on Strength (CVX)

Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading hours on Tuesday. $115.60 million flowed into the stock on the tick-up and $168.41 million flowed out of the stock on the tick-down, for a money net flow of $52.81 million out of the stock. Of all stocks tracked, Chevron Corporation had the 17th highest net out-flow for the day. Chevron Corporation traded up $1.09 for the day and closed at $118.80

A number of equities research analysts have recently weighed in on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 price target on shares of Chevron Corporation in a report on Tuesday, October 3rd. Barclays PLC boosted their price target on Chevron Corporation from $120.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday. Wells Fargo & Company reiterated a “market perform” rating and issued a $108.00 price target (up from $100.00) on shares of Chevron Corporation in a report on Tuesday, October 3rd. Bank of America Corporation reiterated a “buy” rating and issued a $125.00 price target (up from $120.00) on shares of Chevron Corporation in a report on Tuesday, October 3rd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $123.00 price target (up from $118.00) on shares of Chevron Corporation in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $117.07.

The stock has a 50-day moving average price of $113.57 and a 200 day moving average price of $108.06. The firm has a market capitalization of $225.13 billion, a P/E ratio of 38.52 and a beta of 1.24.

Chevron Corporation (NYSE:CVX) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.78) EPS. Equities research analysts expect that Chevron Corporation will post $3.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 18th were given a dividend of $1.08 per share. The ex-dividend date was Wednesday, August 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.64%. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.

In other Chevron Corporation news, insider James William Johnson sold 31,000 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now directly owns 11,000 shares in the company, valued at approximately $1,217,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Patricia E. Yarrington sold 39,000 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,312 shares of company stock worth $8,008,343. 0.38% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Chevron Corporation by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. boosted its position in Chevron Corporation by 1.6% in the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the last quarter. State Street Corp boosted its position in Chevron Corporation by 1.1% in the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares during the last quarter. Capital World Investors boosted its position in Chevron Corporation by 9.8% in the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Chevron Corporation by 0.6% in the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the last quarter. Hedge funds and other institutional investors own 62.73% of the company’s stock.

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Chevron Corporation 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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