Investors Sell Chevron Corporation (CVX) on Strength (CVX)

Investors sold shares of Chevron Corporation (NYSE:CVX) on strength during trading hours on Friday. $65.31 million flowed into the stock on the tick-up and $102.12 million flowed out of the stock on the tick-down, for a money net flow of $36.81 million out of the stock. Of all stocks tracked, Chevron Corporation had the 17th highest net out-flow for the day. Chevron Corporation traded up $0.44 for the day and closed at $118.64

A number of equities research analysts have weighed in on the stock. Barclays PLC reiterated an “overweight” rating and set a $125.00 price target (up previously from $116.00) on shares of Chevron Corporation in a research note on Wednesday, July 12th. Jefferies Group LLC set a $135.00 target price on shares of Chevron Corporation and gave the company a “buy” rating in a research note on Saturday, June 24th. Wells Fargo & Co restated a “market perform” rating on shares of Chevron Corporation in a research note on Thursday. They noted that the move was a valuation call. BidaskClub downgraded shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Chevron Corporation in a research note on Saturday, September 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. Chevron Corporation presently has a consensus rating of “Hold” and a consensus target price of $119.66.

The firm has a 50-day moving average of $116.24 and a 200-day moving average of $108.72. The stock has a market cap of $224.82 billion, a PE ratio of 38.47 and a beta of 1.24.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm had revenue of $34.48 billion for the quarter, compared to analysts’ expectations of $32.77 billion. During the same quarter in the prior year, the firm earned ($0.78) EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post $4.08 earnings per share for the current fiscal year.

In other Chevron Corporation news, CFO Patricia E. Yarrington sold 39,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total value of $4,329,000.00. Following the transaction, the chief financial officer now directly owns 43,838 shares in the company, valued at approximately $4,866,018. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP R. Hewitt Pate sold 25,500 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $120.00, for a total value of $3,060,000.00. Following the completion of the transaction, the vice president now owns 25,500 shares in the company, valued at $3,060,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,812 shares of company stock worth $11,068,343. 0.38% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pathstone Family Office LLC increased its stake in Chevron Corporation by 2.5% in the 2nd quarter. Pathstone Family Office LLC now owns 813 shares of the oil and gas company’s stock worth $2,170,000 after acquiring an additional 20 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new position in Chevron Corporation in the 2nd quarter worth about $106,000. Thompson Davis & CO. Inc. increased its stake in Chevron Corporation by 20.0% in the 1st quarter. Thompson Davis & CO. Inc. now owns 1,146 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 191 shares during the last quarter. Winfield Associates Inc. increased its stake in Chevron Corporation by 5.1% in the 2nd quarter. Winfield Associates Inc. now owns 1,301 shares of the oil and gas company’s stock worth $136,000 after acquiring an additional 63 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its stake in Chevron Corporation by 438.5% in the 2nd quarter. Daiwa SB Investments Ltd. now owns 1,400 shares of the oil and gas company’s stock worth $146,000 after acquiring an additional 1,140 shares during the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.

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About Chevron Corporation

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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