Investors Sell Chevron (CVX) on Strength (CVX)

Traders sold shares of Chevron Co. (NYSE:CVX) on strength during trading on Thursday. $100.76 million flowed into the stock on the tick-up and $175.11 million flowed out of the stock on the tick-down, for a money net flow of $74.35 million out of the stock. Of all stocks tracked, Chevron had the 17th highest net out-flow for the day. Chevron traded up $0.84 for the day and closed at $117.66

A number of research analysts have issued reports on CVX shares. Raymond James raised Chevron from a “market perform” rating to an “outperform” rating in a report on Monday, June 18th. ValuEngine raised Chevron from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Wells Fargo & Co boosted their price target on Chevron from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. Barclays boosted their price target on Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, April 30th. Finally, Zacks Investment Research downgraded Chevron from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Eight investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $138.49.

The company has a quick ratio of 0.87, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $236.34 billion, a price-to-earnings ratio of 31.90, a P/E/G ratio of 2.18 and a beta of 1.10.

Chevron (NYSE:CVX) last announced its earnings results on Friday, July 27th. The oil and gas company reported $1.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.09 by ($0.31). The business had revenue of $42.24 billion for the quarter, compared to analyst estimates of $46.62 billion. Chevron had a return on equity of 6.89% and a net margin of 7.87%. The company’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 earnings per share. research analysts predict that Chevron Co. will post 8.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Stockholders of record on Friday, August 17th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, August 16th. Chevron’s payout ratio is 121.08%.

In related news, EVP James William Johnson sold 4,750 shares of the business’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 transaction of $603,060.00. Following the completion of the sale, the executive vice president now directly owns 4,750 shares in the company, valued at $603,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 19,000 shares of company stock valued at $2,422,690 over the last quarter. 0.46% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group grew its holdings in Chevron by 28.4% in the 2nd quarter. Schroder Investment Management Group now owns 1,668,368 shares of the oil and gas company’s stock valued at $209,647,000 after buying an additional 368,910 shares in the last quarter. Global X Management Co LLC grew its holdings in Chevron by 37.2% in the 2nd quarter. Global X Management Co LLC now owns 23,948 shares of the oil and gas company’s stock valued at $3,028,000 after buying an additional 6,496 shares in the last quarter. WealthPLAN Partners LLC grew its holdings in Chevron by 7.3% in the 2nd quarter. WealthPLAN Partners LLC now owns 7,225 shares of the oil and gas company’s stock valued at $914,000 after buying an additional 494 shares in the last quarter. MAI Capital Management grew its holdings in Chevron by 1.3% in the 2nd quarter. MAI Capital Management now owns 59,643 shares of the oil and gas company’s stock valued at $7,541,000 after buying an additional 763 shares in the last quarter. Finally, Private Wealth Partners LLC grew its holdings in Chevron by 1.5% in the 2nd quarter. Private Wealth Partners LLC now owns 50,303 shares of the oil and gas company’s stock valued at $6,360,000 after buying an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 64.27% of the company’s stock.

About Chevron (NYSE:CVX)

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.

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