Insider Selling: Chevron (NYSE:CVX) CTO Sells $1,272,840.00 in Stock

Chevron Corporation (NYSE:CVX) CTO Thomas Booth sold 6,000 shares of the firm’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $212.14, for a total value of $1,272,840.00. Following the completion of the transaction, the chief technology officer directly owned 6,000 shares in the company, valued at approximately $1,272,840. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Chevron Stock Performance

NYSE CVX traded up $3.21 on Friday, hitting $219.56. 7,567,468 shares of the company traded hands, compared to its average volume of 10,228,817. The business’s 50 day moving average price is $215.33 and its 200-day moving average price is $195.33. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. 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 market capitalization of $431.52 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. Chevron had a return on equity of 14.49% and a net margin of 11.56%. The business had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. The business’s quarterly revenue was up 36.3% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 18.64 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a dividend of $1.78 per share. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a dividend yield of 3.2%. Chevron’s payout ratio is 52.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CVX shares. Wells Fargo & Company raised their target price on shares of Chevron from $230.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. Jefferies Financial Group upped their price target on shares of Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Morgan Stanley increased their price objective on shares of Chevron from $226.00 to $230.00 and gave the stock an “overweight” rating in a research note on Monday, November 2nd. TD Cowen increased their price objective on shares of Chevron from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, October 12th. Finally, Dbs Bank upgraded shares of Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.96.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently made changes to their positions in CVX. State Street Corp raised its position in shares of Chevron by 3.9% during the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after buying an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new position in shares of Chevron during the second quarter worth $25,663,729,000. Bank of America Corp DE boosted its position in shares of Chevron by 5.1% during 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 acquiring an additional 1,334,976 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Chevron during the second quarter worth $2,378,114,000. Finally, Amundi grew its stake in Chevron by 14.1% during the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock valued at $2,304,109,000 after acquiring an additional 1,714,835 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Top Chevron Stories

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

• Positive Sentiment: Recent third-quarter coverage highlighted a sharp profit increase driven by refining: adjusted earnings nearly tripled to $10.4 billion, with downstream earnings up 333% and refinery utilization at 98%. Strong refining margins and cash flow helped offset weaker production. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Neutral Sentiment: Chevron’s reported $7 billion Venezuela commitment could offer investment opportunity, but the country’s history of seizing foreign assets adds geopolitical and execution risk; the article contrasts the move with ExxonMobil’s more cautious stance. Article: Chevron Bets $7B on Venezuela
• Negative Sentiment: Vice Chairman Mark Nelson sold 112,000 shares, reducing his direct holdings by about 90.6%. The sale may attract attention, although it does not by itself reveal his reason for selling. Article: Chevron Insider Mark Nelson Sells Shares

Chevron Company Profile

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.