Chevron Corp. (NYSE:CVX) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 33,030,202 shares, a drop of 9.0% from the October 14th total of 36,283,016 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily trading volume, of 7,495,128 shares, the days-to-cover ratio is currently 4.4 days.

Shares of Chevron Corp. (NYSE:CVX) opened at 110.62 on Wednesday. The company has a 50-day moving average price of $104.42 and a 200-day moving average price of $102.57. Chevron Corp. has a 52-week low of $75.33 and a 52-week high of $111.00. The company’s market cap is $208.83 billion.

Chevron Corp. (NYSE:CVX) last posted its earnings results on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $30.14 billion for the quarter, compared to the consensus estimate of $29.71 billion. During the same quarter in the prior year, the company earned $1.09 earnings per share. Chevron Corp.’s revenue was down 12.2% on a year-over-year basis. On average, equities analysts predict that Chevron Corp. will post $1.34 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be issued a $1.08 dividend. This is an increase from Chevron Corp.’s previous quarterly dividend of $1.07. The ex-dividend date is Wednesday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.91%. Chevron Corp.’s dividend payout ratio is currently -540.00%.

A number of equities analysts recently issued reports on CVX shares. Barclays PLC reiterated an “equal weight” rating and issued a $125.00 target price on shares of Chevron Corp. in a report on Thursday, July 28th. Zacks Investment Research cut Chevron Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a report on Friday, August 5th. Piper Jaffray Cos. upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Finally, Simmons upgraded Chevron Corp. from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $117.00 in a report on Tuesday, August 9th. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Chevron Corp. presently has an average rating of “Buy” and a consensus price target of $108.61.

In related news, Director Linnet F. Deily sold 5,637 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total value of $593,406.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeanette L. Ourada sold 7,000 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $101.70, for a total value of $711,900.00. Following the completion of the transaction, the insider now owns 7,535 shares in the company, valued at $766,309.50. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Chevron Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 124,845,759 shares of the company’s stock valued at $13,087,581,000 after buying an additional 2,824,724 shares during the period. State Street Corp increased its position in Chevron Corp. by 1.2% in the first quarter. State Street Corp now owns 110,199,640 shares of the company’s stock valued at $10,513,045,000 after buying an additional 1,318,854 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Chevron Corp. by 1.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 50,377,313 shares of the company’s stock valued at $5,184,833,000 after buying an additional 741,697 shares during the period. FMR LLC increased its position in Chevron Corp. by 0.5% in the second quarter. FMR LLC now owns 49,878,624 shares of the company’s stock valued at $5,228,775,000 after buying an additional 250,410 shares during the period. Finally, Capital World Investors increased its position in Chevron Corp. by 0.8% in the second quarter. Capital World Investors now owns 40,135,747 shares of the company’s stock valued at $4,207,430,000 after buying an additional 321,100 shares during the period. 62.30% of the stock is currently owned by institutional investors.

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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.

5 Day Chart for NYSE:CVX

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