Key Points
- Chevron Director John Hess sold 275,000 shares on November 20 at an average price of $150.75 for a total of $41,456,250, reducing his stake by 19.6% to 1,128,045 shares (worth about $170.05 million).
- The company beat Q3 estimates with EPS of $1.85 versus the $1.71 consensus on $48.17 billion of revenue, although EPS declined from $2.48 year‑over‑year.
- Chevron declared a quarterly dividend of $1.71 (annualized $6.84) with an ex‑dividend date of November 18, implying a ~4.6% yield and a payout ratio of 96.2%.
Chevron Corporation (NYSE:CVX - Get Free Report) Director John Hess sold 275,000 shares of the company's stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Chevron Stock Performance
Shares of CVX stock opened at $149.79 on Tuesday. The firm has a 50-day moving average of $154.68 and a 200-day moving average of $151.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $301.61 billion, a P/E ratio of 19.28, a P/E/G ratio of 4.40 and a beta of 0.83.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 earnings per share. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.
Chevron Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Chevron's dividend payout ratio is currently 96.20%.
Analyst Ratings Changes
CVX has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Chevron from $190.00 to $196.00 and gave the company an "overweight" rating in a research report on Friday, November 14th. Mizuho lifted their target price on Chevron from $191.00 to $204.00 and gave the company an "outperform" rating in a research report on Thursday, November 13th. UBS Group raised their target price on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Wall Street Zen upgraded shares of Chevron from a "sell" rating to a "hold" rating in a research note on Saturday, November 8th. Finally, Melius Research initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $166.55.
View Our Latest Report on Chevron
Institutional Investors Weigh In On Chevron
Large investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd raised its position in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter worth about $31,000. Quaker Wealth Management LLC grew its stake in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 439 shares in the last quarter. Decker Retirement Planning Inc. acquired a new position in Chevron during the 3rd quarter worth $34,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in shares of Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company's stock valued at $37,000 after acquiring an additional 118 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.
Chevron Company Profile
(
Get Free Report)
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.
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