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

Investors sold shares of Chevron Corporation (NYSE:CVX) on strength during trading hours on Wednesday. $73.52 million flowed into the stock on the tick-up and $125.09 million flowed out of the stock on the tick-down, for a money net flow of $51.57 million out of the stock. Of all stocks tracked, Chevron Corporation had the 11th highest net out-flow for the day. Chevron Corporation traded up $0.53 for the day and closed at $119.33

Several equities research analysts have weighed in on CVX shares. BidaskClub raised shares of Chevron Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Vetr raised shares of Chevron Corporation from a “buy” rating to a “strong-buy” rating and set a $120.37 price target for the company in a research note on Thursday, June 15th. Macquarie downgraded shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research note on Wednesday, June 21st. BMO Capital Markets set a $130.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC set a $135.00 price target on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $117.07.

The firm has a market capitalization of $226.13 billion, a P/E ratio of 38.69 and a beta of 1.24. The company has a 50 day moving average of $113.57 and a 200-day moving average of $108.06.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same period last year, the company posted ($0.78) EPS. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that Chevron Corporation will post $3.99 EPS for the current 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 3.62%. Chevron Corporation’s dividend payout ratio (DPR) is currently 140.26%.

In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Amarillo National Bank increased its stake in Chevron Corporation by 7.6% during the 3rd quarter. Amarillo National Bank now owns 8,400 shares of the oil and gas company’s stock valued at $987,000 after purchasing an additional 593 shares in the last quarter. Fulton Bank N.A. increased its stake in Chevron Corporation by 10.7% during the 3rd quarter. Fulton Bank N.A. now owns 50,136 shares of the oil and gas company’s stock valued at $5,891,000 after purchasing an additional 4,831 shares in the last quarter. Curbstone Financial Management Corp increased its stake in Chevron Corporation by 88.5% during the 3rd quarter. Curbstone Financial Management Corp now owns 15,402 shares of the oil and gas company’s stock valued at $1,810,000 after purchasing an additional 7,232 shares in the last quarter. Bridges Investment Management Inc. increased its stake in Chevron Corporation by 1.4% during the 3rd quarter. Bridges Investment Management Inc. now owns 91,726 shares of the oil and gas company’s stock valued at $10,778,000 after purchasing an additional 1,288 shares in the last quarter. Finally, Perpetual Ltd increased its stake in Chevron Corporation by 6.8% during the 2nd quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock valued at $2,297,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

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About Chevron Corporation

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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