Investors Buy Chevron (CVX) on Weakness

Traders purchased 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

Several research analysts have recently weighed in on CVX shares. Zacks Investment Research raised Chevron from a “hold” rating to a “strong-buy” rating and set a $147.00 price objective for the company in a research report on Wednesday, June 13th. Credit Suisse Group set a $132.00 price objective on Chevron and gave the stock a “hold” rating in a research report on Sunday, July 1st. Barclays upped their price objective on Chevron from $145.00 to $148.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 price objective on shares of Chevron in a research report on Monday, July 2nd. Finally, Mizuho started coverage on Chevron in a research report on Friday, June 8th. They set a “buy” rating and a $145.00 price objective for the company. Seven research 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 has a consensus 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 stock has a market cap of $240.67 billion, a P/E 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 results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating the 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 firm had revenue of $37.76 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. equities research analysts anticipate that Chevron Co. will post 8.52 EPS for the current fiscal year.

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

In other Chevron news, EVP James William Johnson sold 4,750 shares of the company’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $126.96, for a total value of $603,060.00. Following the sale, the executive vice president now owns 4,750 shares in the company, valued at $603,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares in the company, valued at approximately $3,110,235. The disclosure for this sale can be found here. Insiders have sold 391,250 shares of company stock valued at $50,351,940 over the last three months. Insiders own 0.46% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CVX. Earnest Partners LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $114,000. Advisors Preferred LLC bought a new position in shares of Chevron during the first quarter worth approximately $110,000. Virtue Capital Management LLC bought a new position in shares of Chevron during the fourth quarter worth approximately $128,000. Litman Gregory Asset Management LLC increased its stake in shares of Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares during the period. Finally, Point72 Asia Hong Kong Ltd increased its stake in shares of Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 64.28% of the company’s stock.

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.

Receive News & Ratings for Chevron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chevron and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply