Chevron (CVX) Shares Gap Down to $119.76

Chevron Co. (NYSE:CVX) shares gapped down before the market opened on Monday . The stock had previously closed at $117.94, but opened at $119.76. Chevron shares last traded at $120.02, with a volume of 652408 shares.

Several research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Chevron from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Monday. Credit Suisse Group reissued a “buy” rating and set a $130.00 target price on shares of Chevron in a report on Wednesday, January 23rd. Bank of America raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $140.00 target price for the company in a report on Friday. Tudor Pickering started coverage on shares of Chevron in a report on Friday, March 1st. They set a “buy” rating and a $133.00 target price for the company. Finally, UBS Group raised shares of Chevron from a “neutral” rating to a “buy” rating and set a $112.95 price objective for the company in a report on Friday, January 18th. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $136.20.

The stock has a market cap of $227.55 billion, a PE ratio of 14.56, a PEG ratio of 3.79 and a beta of 1.03. The company has a current ratio of 1.25, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18.

Chevron (NYSE:CVX) last announced its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.87 by $0.08. Chevron had a net margin of 8.91% and a return on equity of 9.78%. The business had revenue of $42.35 billion for the quarter, compared to analyst estimates of $41.46 billion. During the same quarter last year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts expect that Chevron Co. will post 6.68 earnings per share for the current fiscal year.

In related news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $112.20, for a total transaction of $532,950.00. Following the transaction, the insider now directly owns 4,750 shares in the company, valued at $532,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $116.50, for a total transaction of $838,800.00. Following the transaction, the insider now owns 7,200 shares in the company, valued at $838,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,700 shares of company stock worth $1,964,740. Company insiders own 0.46% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CVX. Oregon Public Employees Retirement Fund boosted its position in Chevron by 10,867.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 55,998,891 shares of the oil and gas company’s stock worth $515,000 after acquiring an additional 55,488,319 shares during the last quarter. Norges Bank acquired a new position in Chevron in the 4th quarter valued at about $2,131,241,000. Capital International Investors boosted its holdings in Chevron by 157.4% in the 3rd quarter. Capital International Investors now owns 23,757,783 shares of the oil and gas company’s stock valued at $2,905,102,000 after purchasing an additional 14,528,219 shares during the last quarter. BlackRock Inc. boosted its holdings in Chevron by 5.2% in the 4th quarter. BlackRock Inc. now owns 127,839,017 shares of the oil and gas company’s stock valued at $13,907,606,000 after purchasing an additional 6,328,133 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Chevron by 320.3% in the 3rd quarter. Renaissance Technologies LLC now owns 2,855,084 shares of the oil and gas company’s stock valued at $349,120,000 after purchasing an additional 2,175,800 shares during the last quarter. Hedge funds and other institutional investors own 66.07% of the company’s stock.

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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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