Insider Selling: Chevron (NYSE:CVX) Director Sells 275,000 Shares of Stock

Chevron Corporation (NYSE:CVX) Director John Hess sold 275,000 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the sale, the director owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Chevron Price Performance

Shares of CVX traded down $0.19 on Monday, hitting $149.79. The company’s stock had a trading volume of 13,346,270 shares, compared to its average volume of 8,839,063. The company has a 50 day moving average price of $154.83 and a 200 day moving average price of $150.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $301.61 billion, a PE ratio of 19.28, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the prior year, the business earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is presently 96.20%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CVX. Barclays decreased their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Piper Sandler decreased their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday, November 10th. Wells Fargo & Company lifted their price target on shares of Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $166.55.

Institutional Investors Weigh In On Chevron

Hedge funds have recently added to or reduced their stakes in the business. Vishria Bird Financial Group LLC boosted its holdings in shares of Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock worth $821,000 after acquiring an additional 65 shares during the period. Nexus Investment Management ULC lifted its position in shares of Chevron by 0.9% during the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock valued at $1,187,000 after acquiring an additional 65 shares during the period. Scott & Selber Inc. increased its position in shares of Chevron by 0.5% in the third quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 65 shares during the period. White Knight Strategic Wealth Advisors LLC increased its holdings in Chevron by 3.0% in the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 65 shares during the period. Finally, William B. Walkup & Associates Inc. boosted its position in shares of Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock worth $987,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.