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

Chevron Co. (NYSE:CVX) traded 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. 1,716,490 shares were traded during mid-day trading, a decline of 80% from the average session 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 company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $160.09, for a total transaction of $448,252.00. Following the completion of the transaction, the vice president now owns 276 shares in the company, valued at $44,184.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CVX shares. HSBC raised their price target on Chevron from $175.00 to $178.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial reduced 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. Scotiabank upgraded Chevron from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group raised Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research report on Monday, January 8th. Finally, UBS Group increased their price objective on Chevron from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Tuesday, April 9th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $185.35.

Chevron Price Performance

The firm has a 50 day moving average price of $156.96 and a 200 day moving average price of $151.68. The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock 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.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 EPS for the quarter, topping the consensus estimate of $2.84 by $0.09. The firm had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.55 earnings per share. On average, analysts forecast that Chevron Co. will post 13.71 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Institutional Trading of Chevron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacifica Partners Inc. increased its stake in Chevron by 1.8% in the 1st quarter. Pacifica Partners Inc. now owns 3,492 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 63 shares during the last quarter. Private Wealth Management Group LLC increased its stake in Chevron by 15.7% in the 1st quarter. Private Wealth Management Group LLC now owns 464 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 63 shares during the last quarter. Sweet Financial Partners LLC increased its stake in Chevron by 0.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 8,761 shares of the oil and gas company’s stock worth $1,477,000 after acquiring an additional 65 shares during the last quarter. Strategic Investment Advisors MI increased its stake in Chevron by 3.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 1,758 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 65 shares during the last quarter. Finally, Marks Group Wealth Management Inc increased its stake in 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 worth $339,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 72.42% of the company’s stock.

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.