Chevron Co. (NYSE:CVX) Director Sells $833,523.00 in Stock

Chevron Co. (NYSE:CVX) Director Enrique Hernandez, Jr. sold 5,098 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $163.50, for a total transaction of $833,523.00. Following the completion of the transaction, the director now owns 2,549 shares in the company, valued at $416,761.50. The transaction was disclosed in a filing with the SEC, which is available at this link.

Chevron Stock Down 0.1 %

Shares of NYSE CVX opened at $162.54 on Thursday. The stock has a fifty day moving average price of $157.62 and a 200 day moving average price of $151.45. The company has a current ratio of 1.23, a quick ratio of 0.93 and a debt-to-equity ratio of 0.13. Chevron Co. has a 12-month low of $139.62 and a 12-month high of $171.70. The company has a market cap of $300.21 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.37 and a beta of 1.11.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.55 earnings per share. Research analysts anticipate that Chevron Co. will post 13.53 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given 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 dividend yield of 4.01%. Chevron’s payout ratio is currently 59.98%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pacifica Partners Inc. grew its stake in shares of Chevron by 1.8% during the first quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 63 shares in the last quarter. Private Wealth Management Group LLC boosted its holdings in Chevron by 15.7% in the first quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock valued at $73,000 after purchasing an additional 63 shares during the last quarter. Strategic Investment Advisors MI increased its holdings in Chevron by 3.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after purchasing an additional 65 shares during the last quarter. Marks Group Wealth Management Inc raised its position in shares of Chevron by 3.1% in the 1st quarter. Marks Group Wealth Management Inc now owns 2,148 shares of the oil and gas company’s stock valued at $339,000 after purchasing an additional 65 shares in the last quarter. Finally, Ellenbecker Investment Group boosted its stake in shares of Chevron by 1.5% during the 1st quarter. Ellenbecker Investment Group now owns 4,346 shares of the oil and gas company’s stock valued at $686,000 after buying an additional 65 shares during the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CVX shares. Truist Financial reduced their price objective on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Raymond James raised 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. Mizuho upped their target price on Chevron from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised their price target on Chevron from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, February 5th. Finally, Wells Fargo & Company upped their price objective on shares of Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus price target of $185.35.

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.