Traders Buy Shares of Chevron (CVX) on Weakness

Investors bought shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Monday. $168.18 million flowed into the stock on the tick-up and $99.84 million flowed out of the stock on the tick-down, for a money net flow of $68.34 million into the stock. Of all stocks tracked, Chevron had the 16th highest net in-flow for the day. Chevron traded down ($0.63) for the day and closed at $116.95

CVX has been the topic of several analyst reports. Credit Suisse Group set a $138.00 price target on Chevron and gave the stock a “buy” rating in a report on Saturday, December 8th. Wells Fargo & Co cut their price objective on Chevron from $160.00 to $158.00 and set an “outperform” rating for the company in a research report on Monday, November 5th. Piper Jaffray Companies reissued an “overweight” rating on shares of Chevron in a research report on Tuesday, October 23rd. Societe Generale cut their price objective on Chevron from $150.00 to $128.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Finally, Zacks Investment Research raised Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus target price of $133.20.

The company has a market capitalization of $224.67 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.22 and a quick ratio of 1.01.

Chevron (NYSE:CVX) last posted its earnings results on Friday, February 1st. The oil and gas company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. Chevron had a return on equity of 9.82% and a net margin of 8.91%. The firm had revenue of $42.35 billion during the quarter, compared to analysts’ expectations of $41.46 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, analysts forecast that Chevron Co. will post 6.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 15th will be paid a $1.19 dividend. The ex-dividend date is Thursday, February 14th. This represents a $4.76 dividend on an annualized basis and a yield of 4.07%. This is a boost from Chevron’s previous quarterly dividend of $1.12. Chevron’s payout ratio is currently 54.30%.

In other Chevron news, EVP James William Johnson sold 4,750 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $120.92, for a total value of $574,370.00. Following the completion of the sale, the executive vice president now owns 4,750 shares in the company, valued at $574,370. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jeanette L. Ourada sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $116.50, for a total value of $838,800.00. Following the completion of the sale, the insider now owns 7,200 shares of the company’s stock, valued at approximately $838,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,200 shares of company stock valued at $3,072,725. 0.46% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. CKW Financial Group increased its holdings in shares of Chevron by 123.5% in the fourth quarter. CKW Financial Group now owns 362 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Portfolio Solutions LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $42,000. Highwater Wealth Management LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $51,000. Ironwood Financial llc increased its holdings in shares of Chevron by 94.2% in the fourth quarter. Ironwood Financial llc now owns 538 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 261 shares during the period. Finally, Tributary Capital Management LLC acquired a new position in shares of Chevron in the fourth quarter valued at approximately $84,000. Institutional investors own 67.51% 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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