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

Chevron Co. (NYSE:CVX) shares were down 0.3% during trading on Monday following insider selling activity. The stock traded as low as $164.69 and last traded at $165.35. Approximately 1,716,490 shares traded hands during 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 stock in a transaction 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 transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CVX. Truist Financial decreased their price target on Chevron from $168.00 to $156.00 and set a “hold” rating for the company in a report on Friday, April 5th. Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday. HSBC lifted their price target on shares of Chevron from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group lifted their price target on shares of Chevron from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.35.

Chevron Trading Down 3.0 %

The company has a market cap of $299.52 billion, a P/E ratio of 14.84, a P/E/G ratio of 2.43 and a beta of 1.12. The stock’s 50-day moving average is $156.96 and its two-hundred day moving average is $151.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.27 and a quick ratio of 1.01.

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. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a net margin of 10.21% and a return on equity of 14.38%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.55 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 13.71 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Avior Wealth Management LLC raised its position in Chevron by 55.5% in the first quarter. Avior Wealth Management LLC now owns 32,333 shares of the oil and gas company’s stock worth $5,100,000 after acquiring an additional 11,535 shares during the period. Braun Stacey Associates Inc. raised its position in Chevron by 0.6% in the first quarter. Braun Stacey Associates Inc. now owns 132,108 shares of the oil and gas company’s stock worth $20,839,000 after acquiring an additional 849 shares during the period. Mission Wealth Management LP raised its position in Chevron by 21.7% in the first quarter. Mission Wealth Management LP now owns 36,357 shares of the oil and gas company’s stock worth $5,735,000 after acquiring an additional 6,492 shares during the period. DORCHESTER WEALTH MANAGEMENT Co raised its position in Chevron by 3.2% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,075 shares of the oil and gas company’s stock worth $643,000 after acquiring an additional 125 shares during the period. Finally, Wambolt & Associates LLC raised its position in Chevron by 20.6% in the first quarter. Wambolt & Associates LLC now owns 10,351 shares of the oil and gas company’s stock worth $1,647,000 after acquiring an additional 1,768 shares during the period. 72.42% of the stock is currently owned by institutional investors.

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.