Investors Buy Shares of Chevron Corporation (CVX) on Weakness

Traders bought shares of Chevron Corporation (NYSE:CVX) on weakness during trading on Tuesday. $205.91 million flowed into the stock on the tick-up and $105.81 million flowed out of the stock on the tick-down, for a money net flow of $100.10 million into the stock. Of all equities tracked, Chevron Corporation had the 4th highest net in-flow for the day. Chevron Corporation traded down ($0.31) for the day and closed at $116.92

A number of equities analysts recently commented on the company. BMO Capital Markets cut Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a report on Wednesday, October 18th. They noted that the move was a valuation call. Morgan Stanley raised their price objective on shares of Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Societe Generale downgraded shares of Chevron Corporation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $120.00 to $130.00 in a research report on Wednesday, October 18th. Vetr downgraded shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price objective for the company. in a research report on Monday, October 16th. Finally, Macquarie upgraded shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. Chevron Corporation has an average rating of “Hold” and an average target price of $120.63.

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market cap of $222,130.00, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 3.91 and a beta of 1.22.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.04. The business had revenue of $36.21 billion for the quarter, compared to analysts’ expectations of $34.06 billion. Chevron Corporation had a net margin of 4.79% and a return on equity of 4.59%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. equities research analysts expect that Chevron Corporation will post 4.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 17th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 3.69%. Chevron Corporation’s dividend payout ratio (DPR) is currently 125.95%.

In other Chevron Corporation news, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $3,060,000.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,060,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total transaction of $248,262.56. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 50,000 shares of company stock worth $6,590 and have sold 29,041 shares worth $3,453,285. Corporate insiders own 0.38% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Shine Investment Advisory Services Inc. acquired a new position in shares of Chevron Corporation during the second quarter valued at about $106,000. Thompson Davis & CO. Inc. raised its holdings in shares of Chevron Corporation by 20.0% during the first quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock valued at $123,000 after purchasing an additional 191 shares during the period. Winfield Associates Inc. raised its holdings in shares of Chevron Corporation by 5.1% during the second quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock valued at $136,000 after purchasing an additional 63 shares during the period. Daiwa SB Investments Ltd. raised its holdings in shares of Chevron Corporation by 438.5% during the second quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock valued at $146,000 after purchasing an additional 1,140 shares during the period. Finally, Acrospire Investment Management LLC raised its holdings in shares of Chevron Corporation 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 period. 63.03% of the stock is currently owned by institutional investors and hedge funds.

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Chevron Corporation Company Profile

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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