Chevron (NYSE:CVX) Shares Down 1% on Insider Selling

Chevron Co. (NYSE:CVX)’s stock price dropped 1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $164.17 and last traded at $164.62. Approximately 1,578,668 shares traded hands during trading, a decline of 81% from the average daily volume of 8,367,650 shares. The stock had previously closed at $166.33.

Specifically, VP Alana K. Knowles sold 2,800 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $165.00, for a total transaction of $462,000.00. Following the sale, the vice president now owns 276 shares of the company’s stock, valued at approximately $45,540. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CVX. The Goldman Sachs Group reissued a “buy” rating on shares of Chevron in a report on Monday, April 1st. Barclays began coverage on shares of Chevron in a report on Wednesday, April 10th. They set an “overweight” rating and a $203.00 price objective on the stock. Scotiabank raised shares of Chevron from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $170.00 to $195.00 in a report on Thursday, April 11th. Jefferies Financial Group raised shares of Chevron from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a report on Monday, January 8th. Finally, Truist Financial reduced their target price on shares of Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average target price of $185.35.

Chevron Stock Down 1.1 %

The firm has a market capitalization of $296.35 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.43 and a beta of 1.12. The business’s 50-day moving average is $157.04 and its two-hundred day moving average is $151.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.27.

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

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.09%. Chevron’s dividend payout ratio is 59.98%.

Institutional Trading of Chevron

A number of hedge funds have recently modified their holdings of the company. American Capital Advisory LLC raised its holdings in Chevron by 403.2% during the 1st quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock worth $25,000 after buying an additional 125 shares during the period. Picton Mahoney Asset Management acquired a new stake in Chevron during the 3rd quarter worth approximately $26,000. Bare Financial Services Inc acquired a new stake in Chevron during the 4th quarter worth approximately $27,000. Valley Forge Investment Consultants Inc. ADV raised its holdings in Chevron by 80.0% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 180 shares of the oil and gas company’s stock worth $30,000 after buying an additional 80 shares during the period. Finally, Frank Rimerman Advisors LLC acquired a new stake in Chevron during the 4th quarter worth approximately $30,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

About Chevron

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.