Investors Sell Chevron Corporation (CVX) on Strength (CVX)
Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Tuesday. $65.20 million flowed into the stock on the tick-up and $135.72 million flowed out of the stock on the tick-down, for a money net flow of $70.52 million out of the stock. Of all stocks tracked, Chevron Corporation had the 0th highest net out-flow for the day. Chevron Corporation traded up $0.39 for the day and closed at $117.82
Several equities analysts recently commented on CVX shares. BMO Capital Markets set a $130.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Thursday, June 22nd. Scotiabank reissued a “buy” rating and issued a $113.00 target price on shares of Chevron Corporation in a report on Friday, June 30th. Jefferies Group LLC set a $135.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Saturday, June 24th. Citigroup Inc. dropped their target price on Chevron Corporation from $129.00 to $118.00 and set a “buy” rating on the stock in a report on Friday, July 21st. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $116.82.
The company’s 50 day moving average price is $112.23 and its 200 day moving average price is $107.77. The stock has a market capitalization of $222.81 billion, a PE ratio of 38.13 and a beta of 1.24. Chevron Corporation also was the recipient of unusually large options trading activity on Monday. Traders bought 9,406 call options on the stock. This represents an increase of approximately 100% compared to the average daily volume of 4,703 call options.
Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm had revenue of $34.48 billion during the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the firm earned ($0.78) EPS. Chevron Corporation’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that Chevron Corporation will post $3.93 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is 140.26%.
In other Chevron Corporation news, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares of the company’s stock, valued at approximately $4,866,018. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,312 shares of company stock valued at $8,008,343. 0.38% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CVX. Harbour Capital Advisors LLC lifted its stake in shares of Chevron Corporation by 10,213.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 worth $14,567,210,000 after acquiring an additional 3,920,240 shares during the period. Capital World Investors lifted its stake in shares of 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 worth $3,708,603,000 after acquiring an additional 3,182,250 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Chevron Corporation by 669.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after acquiring an additional 2,810,928 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of 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 worth $13,007,759,000 after acquiring an additional 1,975,865 shares during the period. Hedge funds and other institutional investors own 62.74% 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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