Key Points
- Chevron director John Hess sold 380,000 shares on May 20 at an average price of $193.20, totaling about $73.4 million. After the sale, he still held 278,045 shares, cutting his stake by 57.75%.
- Chevron recently beat earnings expectations, reporting $1.41 EPS versus the $1.00 consensus, though quarterly revenue came in below estimates at $47.56 billion. Revenue still rose 2.1% from a year earlier.
- The company continues to support shareholders with a dividend, declaring a quarterly payout of $1.78 per share, or $7.12 annualized, for a 3.7% yield. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $204.22.
Chevron Corporation (NYSE:CVX - Get Free Report) Director John Hess sold 380,000 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at approximately $53,718,294. This trade represents a 57.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Chevron Price Performance
Shares of Chevron stock opened at $191.51 on Friday. The company's fifty day simple moving average is $193.54 and its two-hundred day simple moving average is $174.60. The firm has a market cap of $381.42 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 0.64 and a beta of 0.51. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $134.06 and a 12-month high of $214.71.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.41. The firm had revenue of $47.56 billion for the quarter, compared to analyst estimates of $51.86 billion. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.18 EPS. As a group, equities analysts expect that Chevron Corporation will post 15.43 EPS for the current year.
Chevron Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $1.78 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.7%. Chevron's payout ratio is presently 123.40%.
Institutional Investors Weigh In On Chevron
Several hedge funds have recently bought and sold shares of CVX. Vanguard Group Inc. boosted its stake in Chevron by 17.9% during the third quarter. Vanguard Group Inc. now owns 183,790,028 shares of the oil and gas company's stock worth $28,540,753,000 after acquiring an additional 27,961,463 shares in the last quarter. Norges Bank bought a new stake in Chevron during the fourth quarter worth about $3,727,586,000. State Street Corp boosted its stake in Chevron by 9.1% during the third quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company's stock worth $23,698,184,000 after acquiring an additional 12,789,399 shares in the last quarter. Berkshire Hathaway Inc boosted its stake in Chevron by 6.6% during the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company's stock worth $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Finally, Primecap Management Co. CA bought a new stake in Chevron during the third quarter worth about $988,083,000. Institutional investors own 72.42% of the company's stock.
Chevron News Roundup
Here are the key news stories impacting Chevron this week:
Analyst Ratings Changes
A number of brokerages have recently weighed in on CVX. UBS Group lifted their target price on shares of Chevron from $218.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, May 4th. BMO Capital Markets reaffirmed an "outperform" rating and set a $190.00 target price on shares of Chevron in a research note on Monday, February 2nd. Sanford C. Bernstein cut their target price on shares of Chevron from $216.00 to $204.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Argus set a $203.00 target price on shares of Chevron in a research note on Tuesday, February 3rd. Finally, Barclays lifted their target price on shares of Chevron from $180.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $204.22.
View Our Latest Stock Analysis on Chevron
About Chevron
(
Get Free Report)
Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron's core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.
Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.
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