Traders Sell Chevron Corporation (CVX) on Strength (CVX)
Investors sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Tuesday. $65.86 million flowed into the stock on the tick-up and $173.08 million flowed out of the stock on the tick-down, for a money net flow of $107.22 million out of the stock. Of all equities tracked, Chevron Corporation had the 7th highest net out-flow for the day. Chevron Corporation traded up $0.45 for the day and closed at $115.17
Several analysts have recently commented on CVX shares. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. BMO Capital Markets set a $120.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Sunday, July 30th. TheStreet downgraded shares of Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Scotiabank set a $115.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research upgraded shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. Chevron Corporation has a consensus rating of “Hold” and a consensus price target of $120.54.
The firm has a market capitalization of $218,750.00, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.84 and a current ratio of 1.04.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The company had revenue of $36.21 billion during the quarter, compared to analyst estimates of $34.06 billion. During the same quarter last year, the business posted $0.68 EPS. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. research analysts anticipate that Chevron Corporation will post 4.28 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.75%. Chevron Corporation’s payout ratio is 125.95%.
In other news, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the sale, the insider now owns 1,229 shares in the company, valued at approximately $145,022. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP R. Hewitt Pate sold 25,500 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the completion of the sale, the vice president now owns 25,500 shares of the company’s stock, valued at approximately $3,060,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 63,122 shares of company stock valued at $7,433,361. Company insiders own 0.38% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Shine Investment Advisory Services Inc. purchased a new position in shares of Chevron Corporation in the 2nd quarter worth approximately $106,000. Thompson Davis & CO. Inc. grew its position in shares of Chevron Corporation by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after buying an additional 191 shares during the last quarter. Winfield Associates Inc. grew its position in shares of Chevron Corporation by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after buying an additional 63 shares during the last quarter. Daiwa SB Investments Ltd. grew its position in shares of Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 1,140 shares during the last quarter. Finally, Acrospire Investment Management LLC grew its position in shares of Chevron Corporation by 133.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 63.15% of the company’s stock.
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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