Traders Buy Chevron (CVX) on Weakness
Traders purchased shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Monday. $207.18 million flowed into the stock on the tick-up and $143.26 million flowed out of the stock on the tick-down, for a money net flow of $63.92 million into the stock. Of all equities tracked, Chevron had the 23rd highest net in-flow for the day. Chevron traded down ($0.83) for the day and closed at $116.94
CVX has been the topic of several recent analyst reports. Raymond James raised Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. Royal Bank of Canada reissued a “neutral” rating and set a $145.00 target price on shares of Chevron in a report on Monday, July 2nd. Credit Suisse Group set a $132.00 target price on Chevron and gave the stock a “hold” rating in a report on Sunday, July 1st. Macquarie cut Chevron from an “outperform” rating to a “neutral” rating and set a $125.00 target price on the stock. in a report on Tuesday, July 3rd. Finally, Barclays boosted their target price on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Nine investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $136.83.
The firm has a market cap of $234.31 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.08 and a quick ratio of 0.87.
In other Chevron news, insider James William Johnson sold 4,750 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $116.00, for a total value of $551,000.00. Following the transaction, the insider now owns 4,750 shares of the company’s stock, valued at $551,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Advisory Inc. purchased a new position in Chevron during the 2nd quarter worth approximately $413,622,000. Standard Life Aberdeen plc grew its position in Chevron by 78.9% during the 2nd quarter. Standard Life Aberdeen plc now owns 6,790,689 shares of the oil and gas company’s stock worth $858,547,000 after purchasing an additional 2,994,612 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in Chevron by 12,404.4% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,938,051 shares of the oil and gas company’s stock worth $15,598,000 after purchasing an additional 1,922,552 shares in the last quarter. Millennium Management LLC grew its position in Chevron by 478.5% during the 2nd quarter. Millennium Management LLC now owns 2,015,778 shares of the oil and gas company’s stock worth $254,855,000 after purchasing an additional 1,667,339 shares in the last quarter. Finally, PointState Capital LP purchased a new position in Chevron during the 2nd quarter worth approximately $208,402,000. 64.82% of the stock is currently owned by institutional investors.
Chevron Company Profile (NYSE:CVX)
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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