Insider Selling: Chevron Corporation (CVX) EVP Sells 110,771 Shares of Stock
Chevron Corporation (NYSE:CVX) EVP Michael K. Wirth sold 110,771 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total value of $12,868,267.07. Following the sale, the executive vice president now owns 110,771 shares in the company, valued at $12,868,267.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Chevron Corporation (CVX) traded down $0.92 on Monday, hitting $115.59. The stock had a trading volume of 4,290,516 shares, compared to its average volume of 5,629,497. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Chevron Corporation has a twelve month low of $102.55 and a twelve month high of $120.89. The firm has a market capitalization of $221,296.08, a price-to-earnings ratio of 32.64, a PEG ratio of 3.84 and a beta of 1.22.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. Chevron had a return on equity of 4.59% and a net margin of 4.79%. The business had revenue of $36.21 billion for the quarter, compared to analyst estimates of $34.06 billion. During the same quarter in the prior year, the firm posted $0.68 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. equities analysts predict that Chevron Corporation will post 4.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, November 16th. Chevron’s payout ratio is 125.95%.
A number of analysts have weighed in on CVX shares. TheStreet upgraded Chevron from a “c+” rating to a “b” rating in a research report on Monday, October 23rd. Scotiabank reiterated a “buy” rating on shares of Chevron in a research report on Friday, September 15th. Jefferies Group LLC set a $130.00 price target on Chevron and gave the company a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies set a $119.00 price target on Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, Credit Suisse Group set a $123.00 price target on Chevron and gave the company a “buy” rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $120.54.
A number of large investors have recently added to or reduced their stakes in CVX. Harbour Capital Advisors LLC increased its holdings in shares of Chevron by 10,213.3% in the second quarter. Harbour Capital Advisors LLC now owns 5,709,042 shares of the oil and gas company’s stock worth $54,721,000 after acquiring an additional 5,653,686 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Chevron by 2.9% in the second quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after acquiring an additional 3,920,240 shares in the last quarter. Capital World Investors increased its holdings in shares of Chevron by 9.8% in the second quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after acquiring an additional 3,182,250 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Chevron by 669.9% during the second quarter. Janus Henderson Group PLC now owns 3,230,554 shares of the oil and gas company’s stock worth $337,050,000 after buying an additional 2,810,928 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Chevron by 305,886.4% during the third quarter. First Eagle Investment Management LLC now owns 2,613,124 shares of the oil and gas company’s stock worth $307,042,000 after buying an additional 2,612,270 shares in the last quarter. 63.15% of the stock is currently owned by hedge funds and other institutional investors.
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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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