Traders Buy Chevron (CVX) on Weakness

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Traders bought shares of Chevron Co. (NYSE:CVX) on weakness during trading on Wednesday. $218.96 million flowed into the stock on the tick-up and $141.92 million flowed out of the stock on the tick-down, for a money net flow of $77.04 million into the stock. Of all stocks tracked, Chevron had the 11th highest net in-flow for the day. Chevron traded down ($4.07) for the day and closed at $123.52

A number of equities research analysts have commented on CVX shares. Vetr lowered Chevron from a “buy” rating to a “hold” rating and set a $117.38 price objective for the company. in a research report on Wednesday, March 21st. Wells Fargo & Co raised their price objective on Chevron from $138.00 to $153.00 and gave the stock an “outperform” rating in a research report on Thursday, April 12th. They noted that the move was a valuation call. Royal Bank of Canada restated a “hold” rating and set a $130.00 price objective on shares of Chevron in a research report on Friday, April 13th. ValuEngine raised Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $140.00 price target on shares of Chevron in a research note on Monday, April 23rd. Seven analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $135.92.

The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.21. The company has a market cap of $240.67 billion, a price-to-earnings ratio of 34.09, a P/E/G ratio of 2.11 and a beta of 1.13.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, April 27th. The oil and gas company reported $1.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The business had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. During the same period last year, the business earned $1.23 EPS. The firm’s revenue was up 13.0% compared to the same quarter last year. equities analysts anticipate that Chevron Co. will post 8.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 11th. Investors of record on Friday, May 18th were paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Thursday, May 17th. Chevron’s payout ratio is 121.08%.

In other Chevron news, CEO Michael K. Wirth sold 130,000 shares of Chevron stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $128.00, for a total value of $16,640,000.00. Following the transaction, the chief executive officer now directly owns 130,000 shares of the company’s stock, valued at approximately $16,640,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Patricia E. Yarrington sold 135,000 shares of Chevron stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $130.00, for a total value of $17,550,000.00. Following the completion of the transaction, the chief financial officer now directly owns 139,838 shares in the company, valued at $18,178,940. The disclosure for this sale can be found here. Insiders sold a total of 391,250 shares of company stock worth $50,351,940 over the last three months. 0.46% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Koshinski Asset Management Inc. grew its holdings in shares of Chevron by 8.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 14,572 shares of the oil and gas company’s stock worth $1,824,000 after purchasing an additional 1,077 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Chevron by 2.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 8,453,505 shares of the oil and gas company’s stock valued at $1,058,082,000 after buying an additional 234,920 shares in the last quarter. Berkshire Asset Management LLC PA boosted its stake in Chevron by 42.7% in the 4th quarter. Berkshire Asset Management LLC PA now owns 25,234 shares of the oil and gas company’s stock valued at $3,159,000 after buying an additional 7,550 shares in the last quarter. Goodman Financial Corp boosted its stake in Chevron by 1.1% in the 4th quarter. Goodman Financial Corp now owns 44,527 shares of the oil and gas company’s stock valued at $5,574,000 after buying an additional 483 shares in the last quarter. Finally, Aries Wealth Management acquired a new stake in Chevron in the 4th quarter valued at $1,727,000. 64.28% of the stock is currently owned by institutional investors.

About Chevron

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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