Investors sold shares of Chevron Co. (NYSE:CVX) on strength during trading hours on Friday. $117.57 million flowed into the stock on the tick-up and $317.35 million flowed out of the stock on the tick-down, for a money net flow of $199.78 million out of the stock. Of all stocks tracked, Chevron had the 2nd highest net out-flow for the day. Chevron traded up $0.15 for the day and closed at $119.51
CVX has been the subject of a number of research reports. Goldman Sachs Group raised shares of Chevron from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, October 2nd. Royal Bank of Canada set a $150.00 price target on shares of Chevron and gave the company a “hold” rating in a research report on Thursday, September 20th. Zacks Investment Research raised shares of Chevron from a “hold” rating to a “buy” rating and set a $137.00 price target for the company in a research report on Monday, October 1st. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Finally, Bank of America cut shares of Chevron from a “buy” rating to a “neutral” rating and reduced their price target for the company from $150.00 to $135.00 in a research report on Thursday, September 6th. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $138.13.
The company has a current ratio of 1.08, a quick ratio of 0.87 and a debt-to-equity ratio of 0.20. The firm has a market cap of $227.83 billion, a P/E ratio of 32.30, a PEG ratio of 2.05 and a beta of 1.12.
Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 2nd. The oil and gas company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. Chevron had a net margin of 8.79% and a return on equity of 8.24%. The business had revenue of $43.99 billion for the quarter, compared to analyst estimates of $47.17 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. Analysts predict that Chevron Co. will post 8.34 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, November 15th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.75%. Chevron’s dividend payout ratio (DPR) is 121.08%.
In other news, insider James William Johnson sold 4,750 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $116.00, for a total transaction of $551,000.00. Following the transaction, the insider now directly owns 4,750 shares in the company, valued at $551,000. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
Several institutional investors have recently modified their holdings of CVX. Live Your Vision LLC grew its position in Chevron by 308.0% during the second quarter. Live Your Vision LLC now owns 816 shares of the oil and gas company’s stock worth $101,000 after buying an additional 616 shares during the period. Litman Gregory Asset Management LLC grew its position in Chevron by 566.9% during the first quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after buying an additional 975 shares during the period. Canton Hathaway LLC acquired a new position in Chevron during the third quarter worth about $141,000. Signature Estate & Investment Advisors LLC acquired a new position in Chevron during the third quarter worth about $144,000. Finally, Point72 Asia Hong Kong Ltd grew its position in Chevron by 20,716.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after buying an additional 1,243 shares during the period. Institutional investors and hedge funds own 64.66% of the company’s stock.
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About Chevron (NYSE:CVX)
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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