Traders Buy Shares of Chevron Corporation (CVX) on Weakness
Investors bought shares of Chevron Corporation (NYSE:CVX) on weakness during trading on Monday. $135.70 million flowed into the stock on the tick-up and $77.87 million flowed out of the stock on the tick-down, for a money net flow of $57.83 million into the stock. Of all companies tracked, Chevron Corporation had the 8th highest net in-flow for the day. Chevron Corporation traded down ($0.52) for the day and closed at $108.71
A number of brokerages have recently commented on CVX. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Chevron Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Jefferies Group LLC set a $135.00 price objective on shares of Chevron Corporation and gave the company a “buy” rating in a research report on Saturday, June 24th. TheStreet lowered shares of Chevron Corporation from a “b” rating to a “c+” rating in a research report on Friday, July 28th. Finally, BNP Paribas raised shares of Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research report on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $116.80.
The company has a market cap of $206.01 billion, a P/E ratio of 35.25 and a beta of 1.23. The stock has a 50-day moving average price of $106.11 and a 200 day moving average price of $107.56.
Chevron Corporation (NYSE:CVX) last announced its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion for the quarter, compared to analyst estimates of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.78) EPS. Equities research analysts anticipate that Chevron Corporation will post $3.80 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Wednesday, August 16th. Chevron Corporation’s dividend payout ratio (DPR) is presently 140.26%.
In related news, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $110.68, for a total transaction of $3,431,080.00. Following the sale, the insider now directly owns 11,000 shares of the company’s stock, valued at approximately $1,217,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the sale, the chief financial officer now directly owns 43,838 shares in the company, valued at $4,866,018. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.
Several large investors have recently made changes to their positions in CVX. Shine Investment Advisory Services Inc. bought a new stake in shares of Chevron Corporation during the second quarter valued at about $106,000. Thompson Davis & CO. Inc. raised its stake in shares of Chevron Corporation by 20.0% in the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 191 shares during the period. Winfield Associates Inc. raised its stake in shares of Chevron Corporation by 5.1% in the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 63 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Chevron Corporation during the fourth quarter valued at about $139,000. Finally, Americafirst Capital Management LLC bought a new stake in shares of Chevron Corporation during the first quarter valued at about $140,000. 62.75% of the stock is currently owned by institutional investors.
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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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