Investors Sell Shares of Chevron Corp. (CVX) on Strength After Insider Selling
Traders sold shares of Chevron Corp. (NYSE:CVX) on strength during trading hours on Friday following insider selling activity. $113.74 million flowed into the stock on the tick-up and $231.51 million flowed out of the stock on the tick-down, for a money net flow of $117.77 million out of the stock. Of all stocks tracked, Chevron Corp. had the 0th highest net out-flow for the day. Chevron Corp. traded up $1.08 for the day and closed at $109.20Specifically, insider Jeanette L. Ourada sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $101.70, for a total transaction of $711,900.00. Following the sale, the insider now owns 7,535 shares of the company’s stock, valued at approximately $766,309.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Pierre R. Breber sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the sale, the insider now directly owns 28,911 shares in the company, valued at approximately $3,180,210. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.
A number of equities analysts recently issued reports on CVX shares. Jefferies Group reissued a “buy” rating on shares of Chevron Corp. in a report on Thursday, September 8th. Vetr raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 price objective on the stock in a report on Tuesday, August 9th. HSBC reissued a “buy” rating and issued a $120.00 price objective on shares of Chevron Corp. in a report on Sunday, October 16th. Zacks Investment Research raised shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a report on Tuesday, October 18th. Finally, Goldman Sachs Group Inc. raised shares of Chevron Corp. from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Monday, October 31st. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Chevron Corp. currently has a consensus rating of “Buy” and a consensus target price of $108.61.
The firm’s 50 day moving average is $102.85 and its 200-day moving average is $102.23. The stock’s market capitalization is $206.14 billion.
Chevron Corp. (NYSE:CVX) last posted its quarterly earnings data on Friday, October 28th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.29. Chevron Corp. had a positive return on equity of 0.59% and a negative net margin of 1.34%. The firm earned $30.14 billion during the quarter, compared to the consensus estimate of $29.71 billion. During the same period in the prior year, the company earned $1.09 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. Analysts anticipate that Chevron Corp. will post $1.33 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a $1.08 dividend. This is an increase from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 annualized dividend and a yield of 3.96%. The ex-dividend date is Wednesday, November 16th. Chevron Corp.’s dividend payout ratio is currently -540.00%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Smith Moore & CO. increased its position in Chevron Corp. by 22.2% in the first quarter. Smith Moore & CO. now owns 11,752 shares of the company’s stock valued at $1,121,000 after buying an additional 2,132 shares in the last quarter. Carnick & Kubik LLC bought a new stake in shares of Chevron Corp. during the first quarter worth about $188,000. Credit Agricole S A increased its stake in shares of Chevron Corp. by 16.6% in the first quarter. Credit Agricole S A now owns 1,401,159 shares of the company’s stock worth $133,669,000 after buying an additional 199,148 shares during the period. Willis Investment Counsel increased its stake in shares of Chevron Corp. by 0.8% in the first quarter. Willis Investment Counsel now owns 105,975 shares of the company’s stock worth $10,110,000 after buying an additional 800 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in shares of Chevron Corp. by 114.4% in the first quarter. Canada Pension Plan Investment Board now owns 600,443 shares of the company’s stock worth $57,282,000 after buying an additional 320,400 shares during the period. 62.28% of the stock is owned by hedge funds and other institutional investors.
Chevron Corp. 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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