Key Points
- CEO Michael Wirth sold 5,547 Chevron shares at an average price of $187, generating approximately $1.04 million and reducing his direct holdings by 17.41% to 26,308 shares.
- Chevron reported quarterly earnings of $6.06 per share, exceeding estimates of $5.55, while revenue rose 57.4% year over year to $67.2 billion.
- The company declared a quarterly dividend of $1.78 per share, equivalent to $7.12 annually and a 3.8% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $207.48.
Chevron Corporation (NYSE:CVX - Get Free Report) CEO Michael Wirth sold 5,547 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,037,289.00. Following the sale, the chief executive officer owned 26,308 shares of the company's stock, valued at approximately $4,919,596. The trade was a 17.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Chevron Stock Down 1.5%
Shares of NYSE:CVX opened at $186.42 on Friday. The company's fifty day moving average is $182.37 and its two-hundred day moving average is $185.80. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The stock has a market capitalization of $371.28 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 0.58 and a beta of 0.49.
Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $6.06 EPS for the quarter, beating the consensus estimate of $5.55 by $0.51. Chevron had a net margin of 9.57% and a return on equity of 11.14%. The business had revenue of $67.20 billion during the quarter, compared to analyst estimates of $62.72 billion. During the same period in the previous year, the business posted $1.77 EPS. The company's quarterly revenue was up 57.4% on a year-over-year basis. Equities analysts anticipate that Chevron Corporation will post 15.88 EPS for the current year.
Chevron Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.8%. Chevron's dividend payout ratio (DPR) is currently 68.26%.
Institutional Investors Weigh In On Chevron
A number of hedge funds have recently made changes to their positions in CVX. Cornerstone Advisory LLC lifted its position in shares of Chevron by 0.9% during the 1st quarter. Cornerstone Advisory LLC now owns 5,625 shares of the oil and gas company's stock worth $1,164,000 after purchasing an additional 52 shares during the last quarter. Compton Financial Group LLC grew its holdings in shares of Chevron by 1.9% during the 1st quarter. Compton Financial Group LLC now owns 2,944 shares of the oil and gas company's stock worth $609,000 after purchasing an additional 56 shares in the last quarter. Quantum Portfolio Management LLC increased its holdings in Chevron by 2.7% in the 1st quarter. Quantum Portfolio Management LLC now owns 2,101 shares of the oil and gas company's stock valued at $435,000 after buying an additional 56 shares during the period. Wealthspire Retirement LLC lifted its holdings in shares of Chevron by 0.9% during the 1st quarter. Wealthspire Retirement LLC now owns 6,530 shares of the oil and gas company's stock worth $1,351,000 after acquiring an additional 56 shares during the period. Finally, D.B. Root & Company LLC boosted its position in shares of Chevron by 1.0% during the 4th quarter. D.B. Root & Company LLC now owns 5,552 shares of the oil and gas company's stock valued at $846,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 72.42% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on the company. Scotiabank increased their price target on Chevron from $168.00 to $187.00 and gave the stock a "sector perform" rating in a research report on Wednesday, April 22nd. Weiss Ratings lowered Chevron from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Wolfe Research upgraded Chevron from a "peer perform" rating to an "outperform" rating and set a $210.00 price objective for the company in a research note on Thursday, July 2nd. TD Cowen upped their price objective on Chevron from $200.00 to $205.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, UBS Group reaffirmed a "buy" rating on shares of Chevron in a research report on Tuesday, June 23rd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $207.48.
View Our Latest Analysis on CVX
Key Stories Impacting Chevron
Here are the key news stories impacting Chevron this week:
- Positive Sentiment: Chevron reported a sharp earnings rebound, with quarterly net income reaching $12.1 billion versus $2.5 billion a year earlier. The company also exceeded earnings and revenue expectations, benefiting from higher energy prices and Middle Eastern supply disruptions. Chevron Turned $3.1 Billion Loss Into A Gain
- Positive Sentiment: Analysts remain constructive, with TD Cowen forecasting meaningful appreciation potential. Coverage also highlights record production, debt reduction and Chevron’s long-term power agreement with Microsoft as support for the investment case. TD Cowen Forecasts Strong Price Appreciation for Chevron
- Positive Sentiment: Chevron’s dividend, scale, financial strength and resilient operations continue to attract income-focused investors despite volatile oil prices. The company is also expanding its North American base-oils distribution network, potentially supporting downstream growth and product diversification. Beyond Oil Prices: The Case for 3 Dividend-Paying Energy Giants
- Neutral Sentiment: Conflict-related uncertainty in the Gulf is keeping energy options premiums elevated and creating trading opportunities around major oil companies. The same volatility could support Chevron’s cash flow, but it also increases commodity and geopolitical risk. Gulf Uncertainty Is Creating a Win-Win Strategy
- Negative Sentiment: Director John B. Hess sold 810,665 shares in disclosed transactions, reducing his holdings substantially. CEO Michael Wirth separately sold 5,547 shares, or 17.41% of his direct position. Large insider sales may pressure sentiment, although they do not necessarily indicate deteriorating business fundamentals. Chevron Director Insider Sale Filing
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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