Traders Sell Chevron (CVX) on Strength (CVX)

Investors sold shares of Chevron Co. (NYSE:CVX) on strength during trading hours on Wednesday. $141.29 million flowed into the stock on the tick-up and $240.83 million flowed out of the stock on the tick-down, for a money net flow of $99.54 million out of the stock. Of all stocks tracked, Chevron had the 16th highest net out-flow for the day. Chevron traded up $0.35 for the day and closed at $132.36

A number of equities research analysts have recently weighed in on the company. TheStreet raised Chevron from a “c+” rating to a “b” rating in a report on Monday, October 23rd. Goldman Sachs Group reissued a “buy” rating and set a $123.00 target price (up previously from $118.00) on shares of Chevron in a report on Tuesday, September 19th. Cowen reissued a “buy” rating and set a $122.00 target price on shares of Chevron in a report on Tuesday, September 19th. Jefferies Group reissued a “buy” rating and set a $130.00 target price on shares of Chevron in a report on Tuesday, October 3rd. Finally, Bank of America reissued a “buy” rating and set a $125.00 target price (up previously from $120.00) on shares of Chevron in a report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $126.06.

The stock has a market capitalization of $251,400.00, a P/E ratio of 38.59, a P/E/G ratio of 2.95 and a beta of 1.21. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion during the quarter, compared to the consensus estimate of $34.06 billion. Chevron had a return on equity of 4.59% and a net margin of 4.79%. Chevron’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. equities research analysts anticipate that Chevron Co. will post 4.35 EPS for the current year.

In related news, insider Pierre R. Breber sold 23,250 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $119.00, for a total value of $2,766,750.00. Following the completion of the transaction, the insider now owns 42,182 shares of the company’s stock, valued at $5,019,658. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Michael K. Wirth sold 1,229 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $118.00, for a total value of $145,022.00. Following the completion of the transaction, the insider now directly owns 1,229 shares of the company’s stock, valued at approximately $145,022. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,500 shares of company stock valued at $33,480,822. 0.38% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Valley National Advisers Inc. raised its stake in Chevron by 0.4% during the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock worth $273,000 after acquiring an additional 11 shares in the last quarter. Deschutes Portfolio Strategy LLC raised its stake in Chevron by 0.5% during the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 13 shares in the last quarter. Regis Management CO LLC raised its stake in Chevron by 0.4% during the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock worth $341,000 after acquiring an additional 14 shares in the last quarter. Keel Point LLC raised its stake in Chevron by 0.5% during the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 14 shares in the last quarter. Finally, FCG Advisors LLC raised its stake in Chevron by 0.4% during the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock worth $408,000 after acquiring an additional 15 shares in the last quarter. 63.84% of the stock is owned by institutional investors and hedge funds.

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About Chevron

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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