Chevron Corp. (CVX) Short Interest Update
Chevron Corp. (NYSE:CVX) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 37,002,449 shares, an increase of 12.0% from the October 31st total of 33,030,202 shares. Based on an average daily trading volume, of 8,635,161 shares, the short-interest ratio is presently 4.3 days. Approximately 2.0% of the company’s stock are short sold.
In related news, insider Pierre R. Breber sold 10,000 shares of Chevron Corp. stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $110.00, for a total value of $1,100,000.00. Following the completion of the sale, the insider now owns 28,911 shares in the company, valued at $3,180,210. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Linnet F. Deily sold 5,637 shares of Chevron Corp. stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $105.27, for a total transaction of $593,406.99. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors raised its stake in shares of Chevron Corp. by 272.6% in the second quarter. Capital Research Global Investors now owns 14,239,856 shares of the company’s stock worth $1,492,764,000 after buying an additional 10,417,906 shares during the period. Boston Partners purchased a new position in Chevron Corp. during the third quarter valued at about $736,167,000. The Manufacturers Life Insurance Company purchased a new position in Chevron Corp. during the third quarter valued at about $353,119,000. Jarislowsky Fraser Ltd boosted its position in Chevron Corp. by 411.5% in the second quarter. Jarislowsky Fraser Ltd now owns 3,793,376 shares of the company’s stock valued at $221,830,000 after buying an additional 3,051,817 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 in the last quarter. Institutional investors own 61.22% of the company’s stock.
CVX has been the subject of several recent research reports. Vetr upgraded shares of Chevron Corp. from a “hold” rating to a “buy” rating and set a $107.24 target price for the company in a research note on Tuesday, August 9th. Jefferies Group reiterated a “buy” rating on shares of Chevron Corp. in a research note on Thursday, September 8th. Zacks Investment Research lowered shares of Chevron Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. BMO Capital Markets initiated coverage on shares of Chevron Corp. in a research note on Monday, September 12th. They set an “outperform” rating and a $120.00 target price for the company. Finally, Simmons upgraded shares of Chevron Corp. from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $117.00 in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Chevron Corp. currently has a consensus rating of “Buy” and an average target price of $108.42.
Chevron Corp. (NYSE:CVX) opened at 111.56 on Thursday. The stock has a 50 day moving average price of $105.64 and a 200-day moving average price of $102.91. Chevron Corp. has a one year low of $75.33 and a one year high of $112.98. The firm’s market cap is $210.60 billion.
Chevron Corp. (NYSE:CVX) last announced its earnings results on Friday, October 28th. The company reported $0.68 earnings per share for the quarter, beating the Zacks’ 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 company earned $30.14 billion during the quarter, compared to analyst estimates of $29.71 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. Analysts predict that Chevron Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently announced 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 is a positive change from Chevron Corp.’s previous quarterly dividend of $1.07. This represents a $4.32 dividend on an annualized basis and a dividend yield of 3.87%. Chevron Corp.’s dividend payout ratio (DPR) is -540.00%.
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.
Receive News & Stock Ratings for Chevron Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron Corp. and related stocks with our FREE daily email newsletter.