Investors Buy Shares of Chevron (CVX) on Weakness

Traders bought shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Tuesday. $226.68 million flowed into the stock on the tick-up and $98.80 million flowed out of the stock on the tick-down, for a money net flow of $127.88 million into the stock. Of all companies tracked, Chevron had the 5th highest net in-flow for the day. Chevron traded down ($1.16) for the day and closed at $110.98

A number of equities analysts have weighed in on CVX shares. Royal Bank of Canada set a $110.00 price target on Chevron and gave the stock a “sell” rating in a research report on Wednesday, December 20th. Wells Fargo & Co reduced their price target on Chevron from $125.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Zacks Investment Research raised Chevron from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Friday, November 17th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Bank of America downgraded Chevron from a “buy” rating to a “neutral” rating and set a $125.00 price target for the company. in a research report on Thursday, January 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Chevron presently has an average rating of “Buy” and a consensus price target of $130.30.

The firm has a market capitalization of $210,792.52, a P/E ratio of 27.20, a PEG ratio of 2.18 and a beta of 1.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.11%. This is a boost from Chevron’s previous quarterly dividend of $1.08. Chevron’s dividend payout ratio is currently 92.37%.

In other news, insider Pierre R. Breber sold 23,250 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the sale, the insider now owns 42,182 shares in the company, valued at approximately $5,019,658. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Korea Investment CORP raised its stake in Chevron by 5.1% in the 2nd quarter. Korea Investment CORP now owns 1,476,610 shares of the oil and gas company’s stock valued at $154,055,000 after acquiring an additional 72,173 shares during the period. Numeric Investors LLC raised its stake in Chevron by 158.4% in the 2nd quarter. Numeric Investors LLC now owns 52,200 shares of the oil and gas company’s stock valued at $5,446,000 after acquiring an additional 32,000 shares during the period. Palisade Asset Management LLC raised its stake in Chevron by 20.5% in the 2nd quarter. Palisade Asset Management LLC now owns 109,154 shares of the oil and gas company’s stock valued at $11,388,000 after acquiring an additional 18,541 shares during the period. Toronto Dominion Bank raised its stake in Chevron by 24.7% in the 2nd quarter. Toronto Dominion Bank now owns 660,443 shares of the oil and gas company’s stock valued at $68,894,000 after acquiring an additional 130,990 shares during the period. Finally, Perpetual Ltd grew its holdings in Chevron by 6.8% in the 2nd quarter. Perpetual Ltd now owns 22,012 shares of the oil and gas company’s stock valued at $2,297,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds 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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