Traders Buy Shares of Chevron (CVX) on Weakness on Insider Selling

Investors purchased shares of Chevron Co. (NYSE:CVX) on weakness during trading hours on Friday after an insider sold shares in the company. $307.91 million flowed into the stock on the tick-up and $211.57 million flowed out of the stock on the tick-down, for a money net flow of $96.34 million into the stock. Of all equities tracked, Chevron had the 7th highest net in-flow for the day. Chevron traded down ($4.42) for the day and closed at $122.19Specifically, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $121.97, for a total value of $3,110,235.00. Following the sale, the vice president now owns 25,500 shares of the company’s stock, valued at $3,110,235. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James William Johnson sold 9,500 shares of the stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total transaction of $1,229,680.00. Following the completion of the sale, the insider now directly owns 9,500 shares in the company, valued at approximately $1,229,680. The disclosure for this sale can be found here. In the last three months, insiders sold 386,500 shares of company stock worth $49,748,880. Insiders own 0.38% of the company’s stock.

CVX has been the topic of several recent analyst reports. Goldman Sachs Group downgraded shares of Chevron from a “conviction-buy” rating to a “buy” rating in a research note on Monday, February 5th. Barclays raised their price target on shares of Chevron from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, April 30th. Credit Suisse Group reduced their price target on shares of Chevron from $129.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 7th. Vetr raised shares of Chevron from a “hold” rating to a “buy” rating and set a $117.38 price target on the stock in a research note on Tuesday, April 3rd. Finally, ValuEngine raised shares of Chevron from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $131.92.

The company has a current ratio of 1.04, a quick ratio of 0.84 and a debt-to-equity ratio of 0.21. The stock has a market cap of $245.85 billion, a P/E ratio of 33.02, a PEG ratio of 2.44 and a beta of 1.14.

Chevron (NYSE:CVX) last posted its earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.45. The business had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. Chevron had a net margin of 6.95% and a return on equity of 5.83%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 EPS. analysts anticipate that Chevron Co. will post 7.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date is Thursday, May 17th. Chevron’s dividend payout ratio (DPR) is 121.08%.

Several large investors have recently added to or reduced their stakes in the company. Ashburton Jersey Ltd boosted its stake in Chevron by 53.8% in the 1st quarter. Ashburton Jersey Ltd now owns 20,135 shares of the oil and gas company’s stock worth $2,296,000 after purchasing an additional 7,047 shares in the last quarter. Summit X LLC boosted its stake in Chevron by 22.2% in the 1st quarter. Summit X LLC now owns 3,517 shares of the oil and gas company’s stock worth $406,000 after purchasing an additional 639 shares in the last quarter. BDO Wealth Advisors LLC boosted its stake in Chevron by 19.7% in the 1st quarter. BDO Wealth Advisors LLC now owns 13,657 shares of the oil and gas company’s stock worth $1,557,000 after purchasing an additional 2,246 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in Chevron by 8.3% in the 1st quarter. Summit Trail Advisors LLC now owns 12,326 shares of the oil and gas company’s stock worth $1,146,000 after purchasing an additional 949 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in Chevron by 5.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 151,431 shares of the oil and gas company’s stock worth $17,269,000 after purchasing an additional 7,860 shares in the last quarter. Institutional investors and hedge funds own 64.42% of the company’s stock.

About Chevron

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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