Key Points
- Chevron Vice Chairman Mark Nelson sold 112,000 shares for about $23.6 million, cutting his direct holdings by 90.6% to 11,647 shares; the sale was disclosed in an SEC filing.
- Chevron’s latest quarterly results beat expectations: earnings were $5.28 per share versus a $4.87 consensus, while revenue of $65.24 billion rose 36.3% year over year.
- The company declared a quarterly dividend of $1.78 per share, equivalent to $7.12 annually and a 3.3% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $222.81.
Chevron Corporation (NYSE:CVX - Get Free Report) Vice Chairman Mark Nelson sold 112,000 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $210.48, for a total value of $23,573,760.00. Following the sale, the insider owned 11,647 shares of the company's stock, valued at approximately $2,451,460.56. This represents a 90.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Chevron Stock Up 1.6%
Chevron stock opened at $216.64 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.34 and a quick ratio of 1.07. The stock has a market capitalization of $425.78 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 0.50 and a beta of 0.47. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $236.48. The business has a fifty day moving average price of $215.33 and a 200-day moving average price of $195.33.
Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The firm had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. During the same period in the previous year, the business earned $1.85 EPS. The firm's revenue for the quarter was up 36.3% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 18.64 EPS for the current fiscal year.
Chevron Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.78 dividend. This represents a $7.12 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, November 18th. Chevron's dividend payout ratio (DPR) is currently 52.08%.
Key Chevron News
Here's some of the latest news about CVX:
- Positive Sentiment: Chevron plans to restart its Ralston biodiesel facility in Iowa, supported by a feedstock supply agreement with Landus Cooperative. The move could add to its renewable-fuels activity, though the articles provided no financial contribution estimates. Article: Chevron to Restart Ralston Biodiesel Facility in Iowa
- Negative Sentiment: Sanford C. Bernstein cut its price target to $233 from $248 and maintained a “market perform” rating, signaling less upside in its updated view. Article: Bernstein Lowers Chevron Price Target
- Negative Sentiment: Vice Chairman Mark Nelson sold 112,000 shares for about $23.6 million, reducing his direct holdings by 90.6%. Insider sales can draw investor attention, though the transaction alone does not establish the seller’s motivation. SEC Form 4 filing
Institutional Trading of Chevron
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVX. Main Street Group LTD acquired a new position in shares of Chevron in the first quarter valued at about $28,000. Kilter Group LLC purchased a new position in shares of Chevron in the second quarter worth about $28,000. Principia Wealth Advisory LLC raised its stake in shares of Chevron by 49.6% in the second quarter. Principia Wealth Advisory LLC now owns 181 shares of the oil and gas company's stock worth $30,000 after purchasing an additional 60 shares during the last quarter. Strategic Wealth Advisors LLC acquired a new stake in shares of Chevron during the second quarter worth about $33,000. Finally, Burk Holdings LLC acquired a new stake in shares of Chevron during the second quarter worth about $42,000. Institutional investors and hedge funds own 72.42% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on CVX. Freedom Broker upgraded shares of Chevron from a "sell" rating to a "hold" rating and set a $218.00 price objective on the stock in a report on Thursday, November 5th. William Blair assumed coverage on shares of Chevron in a research report on Wednesday, October 28th. They issued an "outperform" rating for the company. Dbs Bank upgraded shares of Chevron to a "moderate buy" rating in a research note on Thursday, August 6th. Mizuho set a $234.00 target price on shares of Chevron in a research report on Monday, October 12th. Finally, Jefferies Financial Group upped their price target on shares of Chevron from $216.00 to $233.00 and gave the company a "buy" rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $222.81.
Read Our Latest Report on Chevron
About Chevron
(
Get Free Report)
Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives. The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
