Chevron (NYSE:CVX) Stock: Insider Thomas Ryder Booth Sells 6,000 Shares

Chevron Corporation (NYSE:CVX) CTO Thomas Booth sold 6,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $212.14, for a total transaction of $1,272,840.00. Following the transaction, the chief technology officer directly owned 6,000 shares of the company’s stock, valued at $1,272,840. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chevron Price Performance

Shares of Chevron stock traded up $3.21 during trading on Friday, reaching $219.56. 7,567,468 shares of the stock traded hands, compared to its average volume of 10,228,817. The company has a market capitalization of $431.52 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 0.50 and a beta of 0.47. The business has a fifty day simple moving average of $215.33 and a two-hundred day simple moving average of $195.33. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.87 by $0.41. The firm had revenue of $65.24 billion for the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The business’s revenue was up 36.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. Sell-side analysts expect that Chevron Corporation will post 18.64 EPS for the current year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio (DPR) is currently 52.08%.

Institutional Investors Weigh In On Chevron

Large investors have recently added to or reduced their stakes in the stock. Blue Capital Inc. purchased a new position in Chevron in the second quarter valued at approximately $786,000. OneAscent Wealth Management LLC purchased a new stake in Chevron during the second quarter worth approximately $973,000. Global Retirement Partners LLC purchased a new stake in Chevron during the second quarter worth approximately $14,276,000. Greg Jennings LLC acquired a new stake in shares of Chevron in the third quarter worth $1,314,000. Finally, Ferguson Wellman Capital Management Inc. increased its position in shares of Chevron by 0.6% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 911,718 shares of the oil and gas company’s stock worth $186,182,000 after acquiring an additional 5,787 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CVX shares. Morgan Stanley upped their price objective on Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. JPMorgan Chase & Co. raised their target price on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Weiss Ratings lowered shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Zacks Research upgraded shares of Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Finally, Piper Sandler upped their price target on shares of Chevron from $207.00 to $243.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.96.

Key Stories Impacting Chevron

Here are a few of the latest stories about CVX:

• Positive Sentiment: Recent third-quarter coverage highlighted a sharp profit increase driven by refining: adjusted earnings nearly tripled to $10.4 billion, with downstream earnings up 333% and refinery utilization at 98%. Strong refining margins and cash flow helped offset weaker production. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Neutral Sentiment: Barclays raised its price target to $248 from $244 but kept an “equal weight” rating, indicating a higher valuation estimate without a more bullish recommendation. Article: Barclays Stock Recommendations
• Negative Sentiment: Third-quarter production fell 2.6%, a potential operational headwind even as stronger refining earnings lifted overall results. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.

Chevron Company Profile

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.