Investors Sell Chevron Corporation (CVX) on Strength (CVX)

Traders sold shares of Chevron Corporation (NYSE:CVX) on strength during trading hours on Tuesday. $78.76 million flowed into the stock on the tick-up and $117.28 million flowed out of the stock on the tick-down, for a money net flow of $38.52 million out of the stock. Of all companies tracked, Chevron Corporation had the 0th highest net out-flow for the day. Chevron Corporation traded up $0.57 for the day and closed at $110.35

CVX has been the topic of a number of recent analyst reports. TheStreet raised Chevron Corporation from a “c” rating to a “b” rating in a research report on Tuesday, May 2nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $135.00 target price (down from $145.00) on shares of Chevron Corporation in a research report on Thursday, May 11th. BMO Capital Markets set a $130.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Thursday, June 22nd. Scotiabank set a $114.00 target price on Chevron Corporation and gave the company a “buy” rating in a research report on Monday, May 1st. Finally, HSBC Holdings plc raised Chevron Corporation from a “hold” rating to a “buy” rating and cut their target price for the company from $124.00 to $119.00 in a research report on Monday, June 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.80.

The firm has a market capitalization of $201.78 billion, a P/E ratio of 34.53 and a beta of 1.23. The stock has a 50-day moving average of $106.43 and a 200-day moving average of $107.47.

Chevron Corporation (NYSE:CVX) last posted its earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. Chevron Corporation’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.78) EPS. Equities analysts expect that Chevron Corporation will post $3.81 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Friday, August 18th will be given a $1.08 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $4.32 annualized dividend and a yield of 4.06%. Chevron Corporation’s payout ratio is 140.26%.

In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the completion of the transaction, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,312 shares of company stock valued at $8,008,343. Corporate insiders own 0.38% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Chevron Corporation by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock valued at $14,567,210,000 after buying an additional 3,920,240 shares during the last quarter. BlackRock Inc. boosted its stake in Chevron Corporation by 1.6% in the second quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock valued at $13,007,759,000 after buying an additional 1,975,865 shares during the period. State Street Corp boosted its stake in Chevron Corporation by 1.1% in the first quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock valued at $12,752,287,000 after buying an additional 1,261,078 shares during the period. Capital World Investors boosted its stake in Chevron Corporation by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock valued at $3,708,603,000 after buying an additional 3,182,250 shares during the period. Finally, Northern Trust Corp boosted its stake in Chevron Corporation by 0.6% in the second quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock valued at $2,728,558,000 after buying an additional 157,021 shares during the period. Hedge funds and other institutional investors own 62.75% of the company’s stock.

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About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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