Chevron (NYSE:CVX) Vice Chairman Mark Nelson Sells 112,000 Shares of Company Stock

Chevron Corporation (NYSE:CVX) Vice Chairman Mark Nelson sold 112,000 shares of Chevron stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the sale, the insider directly owned 11,647 shares of the company’s stock, valued at approximately $2,451,460.56. This trade represents a 90.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chevron Price Performance

Shares of CVX stock opened at $216.64 on Friday. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $215.33 and a two-hundred day simple moving average of $195.33. The stock has a market capitalization of $425.78 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.85 earnings per share. On average, analysts predict that Chevron Corporation will post 18.64 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.3%. Chevron’s dividend payout ratio is 52.08%.

Institutional Investors Weigh In On Chevron

A number of institutional investors have recently added to or reduced their stakes in the stock. Main Street Group LTD bought a new stake in shares of Chevron in the 1st quarter valued at about $28,000. Kilter Group LLC bought a new position in shares of Chevron during the 2nd quarter worth approximately $28,000. Principia Wealth Advisory LLC raised its stake in shares of Chevron by 49.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 60 shares in the last quarter. Strategic Wealth Advisors LLC bought a new position in shares of Chevron during the 2nd quarter worth approximately $33,000. Finally, Burk Holdings LLC purchased a new stake in Chevron during the second quarter valued at approximately $42,000. Institutional investors own 72.42% of the company’s stock.

Chevron News Roundup

These are some of the CVX news items that stood out recently:

• Positive Sentiment: Chevron’s third-quarter adjusted profit nearly tripled to $10.4 billion. Strong refining margins lifted downstream earnings 333%, and refineries ran at 98% capacity, helping offset a 2.6% decline in production. Coverage also cited record U.S. refinery throughput, strong cash flow and rising estimates. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Positive Sentiment: Chevron plans to restart its Ralston biodiesel facility in Iowa, supported by a feedstock supply agreement with Landus Cooperative. The move could add to its renewable-fuels activity, though the articles provided no financial contribution estimates. Article: Chevron to Restart Ralston Biodiesel Facility in Iowa
• Neutral Sentiment: Chevron has emphasized the importance of maintaining financial strength amid volatile oil prices. Uncertainty about the oil-market outlook could affect results, although the company’s integrated business and strong refining performance offer some diversification. Article: What Exxon, Chevron and Shell Said About Where Oil Goes Next

Analyst Ratings Changes

CVX has been the subject of several recent research reports. UBS Group boosted their price target on shares of Chevron from $235.00 to $265.00 and gave the company a “buy” rating in a report on Monday, November 2nd. DZ Bank cut shares of Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a research report on Tuesday, November 3rd. Raymond James Financial dropped their price objective on shares of Chevron from $230.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 21st. The Goldman Sachs Group reissued a “buy” rating and set a $241.00 price objective on shares of Chevron in a report on Tuesday, October 20th. Finally, Wells Fargo & Company lifted their price objective on shares of Chevron from $230.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average target price of $222.81.

About Chevron

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.