Chevron (NYSE:CVX) Trading Down 0.5% on Insider Selling

Chevron Co. (NYSE:CVX)’s share price was down 0.5% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $156.08 and last traded at $156.64. Approximately 1,069,748 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 7,398,747 shares. The stock had previously closed at $157.44.

Specifically, VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the transaction, the vice president now owns 1,057 shares in the company, valued at approximately $161,192.50. The trade was a 89.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CVX shares. Bank of America began coverage on Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. UBS Group cut their target price on shares of Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Raymond James dropped their price objective on shares of Chevron from $180.00 to $175.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Citigroup upgraded shares of Chevron from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Chevron Trading Down 0.4 %

The firm has a fifty day simple moving average of $151.99 and a two-hundred day simple moving average of $150.81. The stock has a market cap of $281.75 billion, a PE ratio of 16.11, a PEG ratio of 1.39 and a beta of 1.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the firm earned $3.45 earnings per share. As a group, equities analysts expect that Chevron Co. will post 10.84 earnings per share for the current fiscal year.

Chevron Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Chevron’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 4.36%. Chevron’s payout ratio is currently 70.37%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Life Planning Partners Inc purchased a new position in shares of Chevron in the 4th quarter worth approximately $25,000. IMG Wealth Management Inc. purchased a new position in shares of Chevron in the 4th quarter valued at $25,000. Rational Advisors LLC purchased a new position in shares of Chevron in the 3rd quarter valued at $29,000. Legacy Investment Solutions LLC purchased a new position in Chevron during the 3rd quarter worth $29,000. Finally, Mizuho Securities Co. Ltd. purchased a new position in Chevron during the 4th quarter worth $29,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

About Chevron

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.