Chevron Corp. (CVX) Insider Pierre R. Breber Sells 10,000 Shares of Stock
Chevron Corp. (NYSE:CVX) insider Pierre R. Breber sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $110.00, for a total transaction of $1,100,000.00. Following the completion of the sale, the insider now owns 28,911 shares of the company’s stock, valued at $3,180,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Chevron Corp. (NYSE:CVX) traded up 1.443% during mid-day trading on Monday, hitting $110.776. 2,001,766 shares of the stock were exchanged. The stock’s 50 day moving average is $103.99 and its 200 day moving average is $102.42. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $110.91. The stock’s market cap is $209.12 billion.
Chevron Corp. (NYSE:CVX) last released its quarterly earnings data on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.29. The firm had revenue of $30.14 billion for the quarter, compared to analyst estimates of $29.71 billion. Chevron Corp. had a negative net margin of 1.34% and a positive return on equity of 0.59%. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 earnings per share. Analysts forecast that Chevron Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be paid a $1.08 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.96%. This is a positive change from Chevron Corp.’s previous quarterly dividend of $1.07. Chevron Corp.’s dividend payout ratio is presently -540.00%.
CVX has been the subject of a number of analyst reports. Exane BNP Paribas initiated coverage on shares of Chevron Corp. in a research note on Monday, October 10th. They set a “neutral” rating and a $102.00 target price for the company. Zacks Investment Research downgraded shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. HSBC reaffirmed a “buy” rating and set a $120.00 target price on shares of Chevron Corp. in a research note on Sunday, October 16th. Jefferies Group reaffirmed a “buy” rating and set a $120.00 target price (up previously from $116.00) on shares of Chevron Corp. in a research note on Tuesday, November 1st. Finally, Piper Jaffray Cos. raised shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $117.00 in a research note on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Chevron Corp. presently has a consensus rating of “Buy” and a consensus price target of $108.61.
Several hedge funds have recently added to or reduced their stakes in CVX. Shell Asset Management Co. raised its stake in Chevron Corp. by 8.6% in the second quarter. Shell Asset Management Co. now owns 425,939 shares of the company’s stock valued at $44,651,000 after buying an additional 33,713 shares in the last quarter. Strs Ohio raised its stake in Chevron Corp. by 0.4% in the second quarter. Strs Ohio now owns 2,051,577 shares of the company’s stock valued at $215,066,000 after buying an additional 8,006 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Chevron Corp. by 3.8% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 322,427 shares of the company’s stock valued at $33,800,000 after buying an additional 11,852 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in Chevron Corp. during the second quarter valued at approximately $2,118,000. Finally, Howard Capital Management raised its stake in Chevron Corp. by 1.2% in the second quarter. Howard Capital Management now owns 136,346 shares of the company’s stock valued at $14,293,000 after buying an additional 1,676 shares in the last quarter. Hedge funds and other institutional investors own 62.30% of the company’s stock.
About Chevron Corp.
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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