Insider Selling: Chevron (NYSE:CVX) Vice Chairman Sells $23,573,760.00 in Stock

Chevron Corporation (NYSE:CVX) Vice Chairman Mark Nelson sold 112,000 shares of Chevron stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $210.48, for a total transaction of $23,573,760.00. Following the transaction, the insider directly owned 11,647 shares in the company, valued at approximately $2,451,460.56. This represents a 90.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Chevron Trading Up 1.6%

Shares of CVX stock traded up $3.36 on Thursday, hitting $216.64. The stock had a trading volume of 9,038,083 shares, compared to its average volume of 10,241,720. Chevron Corporation has a twelve month low of $146.49 and a twelve month high of $236.48. The firm has a market cap of $425.78 billion, a P/E ratio of 15.85, a PEG ratio of 0.49 and a beta of 0.47. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average price of $215.23 and a two-hundred day moving average price of $195.08.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The firm’s revenue was up 36.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.85 EPS. As a group, analysts forecast that Chevron Corporation will post 18.64 earnings per share for the current fiscal year.

Chevron Announces Dividend

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 dividend yield of 3.3%. The ex-dividend date is Wednesday, November 18th. Chevron’s dividend payout ratio is 52.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp boosted its position in Chevron by 4.0% during the 3rd quarter. State Street Corp now owns 154,437,187 shares of the oil and gas company’s stock worth $31,537,618,000 after acquiring an additional 5,989,553 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Chevron in the second quarter valued at approximately $25,663,729,000. Bank of America Corp DE lifted its position in shares of Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock worth $5,716,694,000 after purchasing an additional 1,334,976 shares in the last quarter. Amundi lifted its position in shares of Chevron by 3.0% in the first quarter. Amundi now owns 12,185,436 shares of the oil and gas company’s stock worth $2,521,166,000 after purchasing an additional 349,416 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Chevron in the second quarter worth $2,378,114,000. 72.42% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Weiss Ratings lowered Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. Mizuho set a $234.00 target price on shares of Chevron in a report on Monday, October 12th. HSBC set a $90.00 price target on shares of Chevron in a report on Friday, September 25th. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Finally, Wells Fargo & Company raised their price objective on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $222.81.

Recent Chevron Headlines

These are some of the CVX headlines that stood out recently:

• Positive Sentiment: Chevron plans to restart its Iowa biodiesel facility with feedstock supplied through an agreement with Landus Cooperative, potentially adding to its renewable-fuels activity. Chevron to Restart Ralston Biodiesel Facility
• Neutral Sentiment: Production fell 2.6% in the quarter even as profit surged, showing that refining strength—not higher output—was the main earnings driver. Chevron also emphasized the importance of maintaining financial flexibility amid volatile oil prices. What Chevron Said About Where Oil Goes Next
• Negative Sentiment: Sanford C. Bernstein lowered its price target from $248 to $233 and kept a “market perform” rating, signaling a more cautious view of further share-price gains. Sanford C. Bernstein recommendations

About Chevron

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.