Chevron (NYSE:CVX) Trading Down 0.3% After Insider Selling

Chevron Co. (NYSE:CVX) shares dropped 0.3% during trading on Monday after an insider sold shares in the company. The stock traded as low as $164.69 and last traded at $165.35. Approximately 1,716,490 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 8,392,820 shares. The stock had previously closed at $165.89.

Specifically, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the sale, the vice president now owns 276 shares in the company, valued at $45,540. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CVX. Raymond James upped their price objective on Chevron from $170.00 to $174.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Barclays started coverage on Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. DZ Bank downgraded Chevron from a “buy” rating to a “hold” rating and set a $160.00 target price on the stock. in a research report on Tuesday, February 6th. Finally, Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a research report on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron Trading Down 3.0 %

The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The firm has a market cap of $299.52 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.12. The business has a 50 day moving average price of $156.96 and a 200-day moving average price of $151.68.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The firm had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same quarter last year, the firm earned $3.55 EPS. Chevron’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, research analysts expect that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 17th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 4.04%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Institutional Investors Weigh In On Chevron

Hedge funds have recently bought and sold shares of the business. Avior Wealth Management LLC lifted its holdings in Chevron by 55.5% during the 1st quarter. Avior Wealth Management LLC now owns 32,333 shares of the oil and gas company’s stock worth $5,100,000 after buying an additional 11,535 shares during the last quarter. Braun Stacey Associates Inc. lifted its holdings in Chevron by 0.6% during the 1st quarter. Braun Stacey Associates Inc. now owns 132,108 shares of the oil and gas company’s stock worth $20,839,000 after buying an additional 849 shares during the last quarter. Mission Wealth Management LP lifted its holdings in Chevron by 21.7% during the 1st quarter. Mission Wealth Management LP now owns 36,357 shares of the oil and gas company’s stock worth $5,735,000 after buying an additional 6,492 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its holdings in Chevron by 3.2% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,075 shares of the oil and gas company’s stock worth $643,000 after buying an additional 125 shares during the last quarter. Finally, Wambolt & Associates LLC lifted its holdings in Chevron by 20.6% during the 1st quarter. Wambolt & Associates LLC now owns 10,351 shares of the oil and gas company’s stock worth $1,647,000 after buying an additional 1,768 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.