Chevron Co. (NYSE:CVX) CFO Patricia E. Yarrington sold 135,000 shares of the firm’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $130.00, for a total value of $17,550,000.00. Following the completion of the transaction, the chief financial officer now directly owns 139,838 shares in the company, valued at $18,178,940. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
CVX traded down $0.65 on Tuesday, hitting $129.74. 5,201,339 shares of the company’s stock traded hands, compared to its average volume of 7,156,540. The company has a market capitalization of $248.03 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 2.49 and a beta of 1.14. Chevron Co. has a one year low of $129.35 and a one year high of $130.26. The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21.
Chevron (NYSE:CVX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.45. The company had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the company earned $1.23 EPS. equities research analysts predict that Chevron Co. will post 7.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Friday, May 18th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is presently 121.08%.
Several research analysts have issued reports on the company. Credit Suisse Group raised their target price on Chevron from $129.00 to $132.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. Piper Jaffray reissued a “buy” rating and issued a $140.00 target price on shares of Chevron in a research report on Monday, April 23rd. Vetr raised Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price on the stock in a research report on Tuesday, April 3rd. Barclays raised their target price on Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, April 30th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $130.00 target price on shares of Chevron in a research report on Friday, April 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $131.92.
Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Chevron by 1.9% during the 4th quarter. BlackRock Inc. now owns 128,530,034 shares of the oil and gas company’s stock valued at $16,090,676,000 after buying an additional 2,356,734 shares in the last quarter. Geode Capital Management LLC grew its holdings in Chevron by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 19,836,151 shares of the oil and gas company’s stock valued at $2,478,038,000 after buying an additional 655,892 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Chevron by 7.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,499,859 shares of the oil and gas company’s stock valued at $1,586,183,000 after buying an additional 941,196 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Chevron by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,026,526 shares of the oil and gas company’s stock valued at $1,485,545,000 after buying an additional 549,931 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Chevron by 2.0% during the 3rd quarter. Legal & General Group Plc now owns 10,378,493 shares of the oil and gas company’s stock valued at $1,219,409,000 after buying an additional 199,005 shares in the last quarter. 64.99% of the stock is currently owned by institutional investors.
Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
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