Investors Buy Shares of Chevron (CVX) on Weakness

Investors purchased shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Tuesday. $226.68 million flowed into the stock on the tick-up and $98.80 million flowed out of the stock on the tick-down, for a money net flow of $127.88 million into the stock. Of all companies tracked, Chevron had the 5th highest net in-flow for the day. Chevron traded down ($1.16) for the day and closed at $110.98

A number of equities analysts have recently commented on the stock. Vetr lowered shares of Chevron from a “buy” rating to a “hold” rating and set a $134.35 price target on the stock. in a research report on Thursday, January 11th. Credit Suisse Group initiated coverage on shares of Chevron in a research note on Monday, December 11th. They issued a “neutral” rating and a $123.00 price objective on the stock. Jefferies Group restated a “buy” rating and issued a $140.00 price objective on shares of Chevron in a research note on Wednesday, December 20th. Citigroup raised their price objective on shares of Chevron from $118.00 to $128.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Cowen restated an “outperform” rating and issued a $160.00 price objective (up previously from $122.00) on shares of Chevron in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Chevron presently has a consensus rating of “Buy” and a consensus price target of $130.30.

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 stock has a market capitalization of $210,792.52, a P/E ratio of 27.20, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, February 2nd. The oil and gas company reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.54). Chevron had a return on equity of 5.23% and a net margin of 6.49%. The business had revenue of $37.62 billion for the quarter, compared to analyst estimates of $38.43 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. equities analysts forecast that Chevron Co. will post 6.36 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Thursday, February 15th. This represents a $4.48 dividend on an annualized basis and a yield of 4.11%. This is an increase from Chevron’s previous quarterly dividend of $1.08. Chevron’s payout ratio is currently 92.37%.

In other Chevron news, insider Pierre R. Breber sold 23,250 shares of Chevron stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $119.00, for a total transaction of $2,766,750.00. Following the completion of the transaction, the insider now directly owns 42,182 shares of the company’s stock, valued at $5,019,658. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.38% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Valley National Advisers Inc. lifted its holdings in shares of Chevron by 0.4% during the second quarter. Valley National Advisers Inc. now owns 2,612 shares of the oil and gas company’s stock valued at $273,000 after acquiring an additional 11 shares during the period. Deschutes Portfolio Strategy LLC raised its holdings in shares of Chevron by 0.5% in the second quarter. Deschutes Portfolio Strategy LLC now owns 2,889 shares of the oil and gas company’s stock valued at $301,000 after buying an additional 13 shares during the last quarter. Regis Management CO LLC raised its holdings in shares of Chevron by 0.4% in the second quarter. Regis Management CO LLC now owns 3,269 shares of the oil and gas company’s stock valued at $341,000 after buying an additional 14 shares during the last quarter. Keel Point LLC raised its holdings in shares of Chevron by 0.5% in the second quarter. Keel Point LLC now owns 2,759 shares of the oil and gas company’s stock valued at $288,000 after buying an additional 14 shares during the last quarter. Finally, FCG Advisors LLC raised its holdings in shares of Chevron by 0.4% in the second quarter. FCG Advisors LLC now owns 3,907 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 15 shares during the last quarter. 64.10% of the stock is owned by institutional investors.

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Chevron 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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