Investors Buy Shares of Chevron (CVX) on Weakness

Investors bought shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Monday. $190.03 million flowed into the stock on the tick-up and $149.52 million flowed out of the stock on the tick-down, for a money net flow of $40.51 million into the stock. Of all companies tracked, Chevron had the 15th highest net in-flow for the day. Chevron traded down ($0.39) for the day and closed at $112.14

A number of research analysts recently weighed in on CVX shares. Jefferies Group reissued a “buy” rating and set a $137.00 price target (up from $113.54) on shares of Chevron in a research report on Monday, October 30th. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a report on Monday, February 5th. Zacks Investment Research upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Friday, November 10th. Citigroup raised their price objective on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $130.30.

The company has a market cap of $213,000.00, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.54). The business had revenue of $37.62 billion during the quarter, compared to analysts’ expectations of $38.43 billion. Chevron had a return on equity of 5.23% and a net margin of 6.49%. Chevron’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. equities analysts anticipate that Chevron Co. will post 6.36 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.12 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.08. The ex-dividend date is Thursday, February 15th. This represents a $4.48 annualized dividend and a dividend yield of 4.00%. Chevron’s dividend payout ratio (DPR) is presently 118.52%.

In other news, insider Pierre R. Breber sold 23,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were 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 directly owns 42,182 shares in the company, valued at $5,019,658. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael K. Wirth sold 110,771 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $116.17, for a total transaction of $12,868,267.07. Following the completion of the transaction, the executive vice president now owns 110,771 shares of the company’s stock, valued at $12,868,267.07. The disclosure for this sale can be found here. Insiders sold 250,878 shares of company stock valued at $29,107,461 over the last 90 days. 0.38% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in CVX. Shine Investment Advisory Services Inc. bought a new stake in Chevron during the second quarter valued at approximately $106,000. Earnest Partners LLC bought a new stake in Chevron during the fourth quarter valued at approximately $114,000. Virtue Capital Management LLC bought a new stake in Chevron during the fourth quarter valued at approximately $128,000. Acrospire Investment Management LLC lifted its position in Chevron by 133.3% during the second quarter. Acrospire Investment Management LLC now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 800 shares during the last quarter. Finally, Accurate Investment Solutions Inc. lifted its position in Chevron by 59.1% during the third quarter. Accurate Investment Solutions Inc. now owns 1,352 shares of the oil and gas company’s stock valued at $159,000 after purchasing an additional 502 shares during the last quarter. Institutional investors own 64.10% of the company’s stock.

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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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