Traders Buy Shares of Chevron (CVX) on Weakness

Traders purchased shares of Chevron Co. (NYSE:CVX) on weakness during trading on Monday. $190.03 million flowed into the stock on the tick-up and $149.52 million flowed out of the stock on the tick-down, for a money net flow of $40.51 million into the stock. Of all equities tracked, Chevron had the 15th highest net in-flow for the day. Chevron traded down ($0.39) for the day and closed at $112.14

Several research analysts have recently issued reports on the stock. Vetr downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target for the company. in a report on Thursday, January 11th. Credit Suisse Group assumed coverage on shares of Chevron in a report on Monday, December 11th. They set a “neutral” rating and a $123.00 price target for the company. Jefferies Group reiterated a “buy” rating and set a $140.00 price target on shares of Chevron in a report on Wednesday, December 20th. Citigroup upped their price target on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Cowen reiterated an “outperform” rating and set a $160.00 price target (up from $122.00) on shares of Chevron in a report on Thursday, December 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $130.30.

The firm has a market capitalization of $210,790.00, a price-to-earnings ratio of 29.36, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. 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 (NYSE:CVX) last posted its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). The company had revenue of $37.62 billion during the quarter, compared to analyst estimates of $38.43 billion. Chevron had a net margin of 6.49% and a return on equity of 5.23%. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. equities analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 4.04%. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, February 15th. Chevron’s dividend payout ratio is presently 118.52%.

In related news, insider Pierre R. Breber sold 23,250 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the sale, the insider now directly owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

A number of institutional investors have recently modified their holdings of CVX. Vanguard Group Inc. boosted its position in shares of Chevron by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after purchasing an additional 3,920,240 shares in the last quarter. BlackRock Inc. boosted its position in shares of Chevron by 1.9% during the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock worth $16,090,676,000 after purchasing an additional 2,356,734 shares in the last quarter. Capital World Investors boosted its position in shares of Chevron by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after purchasing an additional 3,182,250 shares in the last quarter. Northern Trust Corp boosted its position in shares of Chevron by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after purchasing an additional 157,021 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Chevron by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock worth $2,478,038,000 after purchasing an additional 655,892 shares in the last quarter. Hedge funds and other institutional investors own 64.10% of the company’s stock.

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Chevron 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.

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