Traders Sell Shares of Chevron (CVX) on Strength (CVX)
Traders sold shares of Chevron Co. (NYSE:CVX) on strength during trading on Wednesday. $116.01 million flowed into the stock on the tick-up and $291.54 million flowed out of the stock on the tick-down, for a money net flow of $175.53 million out of the stock. Of all equities tracked, Chevron had the 2nd highest net out-flow for the day. Chevron traded up $0.37 for the day and closed at $115.72
A number of research firms recently weighed in on CVX. Bank of America reissued a “neutral” rating and set a $140.00 target price (up from $135.00) on shares of Chevron in a research report on Monday, November 5th. Credit Suisse Group raised Chevron from a “neutral” rating to an “outperform” rating and set a $138.00 target price on the stock in a research report on Monday, November 5th. Goldman Sachs Group reaffirmed a “buy” rating and set a $141.00 price objective on shares of Chevron in a report on Tuesday, July 31st. ValuEngine downgraded Chevron from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Chevron currently has an average rating of “Buy” and a consensus target price of $138.13.
The company has a quick ratio of 1.01, a current ratio of 1.22 and a debt-to-equity ratio of 0.19. The firm has a market cap of $224.31 billion, a price-to-earnings ratio of 31.28, a P/E/G ratio of 2.02 and a beta of 1.12.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, November 15th. Chevron’s dividend payout ratio (DPR) is currently 121.08%.
In other news, insider James William Johnson sold 4,750 shares of Chevron stock in a transaction that occurred on Thursday, October 11th. The shares were sold at an average price of $119.97, for a total value of $569,857.50. Following the completion of the transaction, the insider now owns 4,750 shares in the company, valued at $569,857.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.
Large investors have recently bought and sold shares of the company. Reilly Herbert Faulkner III raised its position in Chevron by 4.5% in the 1st quarter. Reilly Herbert Faulkner III now owns 30,697 shares of the oil and gas company’s stock worth $3,501,000 after purchasing an additional 1,334 shares during the last quarter. AMG National Trust Bank raised its position in Chevron by 19.6% in the 2nd quarter. AMG National Trust Bank now owns 6,354 shares of the oil and gas company’s stock worth $803,000 after purchasing an additional 1,041 shares during the last quarter. Fiera Capital Corp raised its position in Chevron by 1.6% in the 1st quarter. Fiera Capital Corp now owns 298,283 shares of the oil and gas company’s stock worth $34,016,000 after purchasing an additional 4,800 shares during the last quarter. BP PLC raised its position in Chevron by 10.6% in the 2nd quarter. BP PLC now owns 240,000 shares of the oil and gas company’s stock worth $30,334,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Altman Advisors Inc. raised its position in Chevron by 84.8% in the 2nd quarter. Altman Advisors Inc. now owns 32,450 shares of the oil and gas company’s stock worth $2,115,000 after purchasing an additional 14,891 shares during the last quarter. Institutional investors own 64.72% of the company’s stock.
About Chevron (NYSE:CVX)
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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