Insider Selling: Chevron (NYSE:CVX) Insider Sells $541,464.00 in Stock

Chevron Corporation (NYSE:CVX) insider R. Pate sold 2,400 shares of the company’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $225.61, for a total transaction of $541,464.00. Following the sale, the insider directly owned 8,791 shares of the company’s stock, valued at approximately $1,983,337.51. This represents a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

R. Hewitt Pate also recently made the following trade(s):

• On Tuesday, October 20th, R. Pate sold 40,700 shares of Chevron stock. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00.
• On Tuesday, August 18th, R. Pate sold 2,470 shares of Chevron stock. The stock was sold at an average price of $205.11, for a total transaction of $506,621.70.

Chevron Stock Performance

Shares of NYSE CVX traded up $1.10 during trading hours on Wednesday, hitting $226.81. 7,913,343 shares of the company’s stock were exchanged, compared to its average volume of 10,395,028. The company’s 50-day moving average price is $208.76 and its 200-day moving average price is $193.71. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $228.48. The stock has a market capitalization of $448.13 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 0.61 and a beta of 0.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.25 and a quick ratio of 0.98.

Chevron (NYSE:CVX) last released its earnings results on Friday, July 31st. The oil and gas company reported $6.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.55 by $0.51. The firm had revenue of $67.20 billion for the quarter, compared to analyst estimates of $62.72 billion. Chevron had a return on equity of 11.09% and a net margin of 9.57%. The company’s revenue was up 57.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, sell-side analysts expect that Chevron Corporation will post 17.71 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were paid a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, August 19th. Chevron’s payout ratio is currently 68.26%.

More Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Higher oil prices support earnings expectations: Brent crude reached a five-month high above $110 as Iran-related geopolitical risks raised concerns about supply disruptions. Because Chevron’s profitability is closely tied to oil prices, the move has helped push the stock toward a 52-week high. Chevron and ExxonMobil Stocks Hit 52-Week Highs
• Positive Sentiment: Venezuela could become a significant growth opportunity: Chevron is reportedly investing billions to expand Venezuelan output, with production potentially reaching 600,000 barrels per day—more than double current levels. Low production costs could create substantial long-term revenue and profit potential if operations and political conditions remain favorable. Chevron Is Pouring Billions Into Venezuela
• Positive Sentiment: Portfolio changes may improve capital efficiency: Chevron’s asset-sale and operating changes are being viewed as efforts to focus the portfolio, reduce costs and strengthen cash flow. Strategic Asset Sales Help Energy Companies Refocus Operations
• Positive Sentiment: Institutional buying and analyst optimism add support: Citadel substantially increased its Chevron stake in the second quarter, while a recent Goldman Sachs call was described as bullish. These developments may reinforce confidence ahead of earnings. Chevron Stock Nears a 52-Week High
• Neutral Sentiment: Strategic transactions carry mixed implications: Chevron’s Bakken changes and a reported effort to take control of a major Iraqi oil field could expand or improve its asset base, but execution, geopolitical and regulatory risks remain. Chevron Moves to Take Over Iraq Oil Field
• Negative Sentiment: Venezuela and Middle East exposure increase risk: Political instability, sanctions, infrastructure constraints and potential supply normalization could limit the benefits of Chevron’s international growth plans and make elevated oil prices difficult to sustain.
• Negative Sentiment: Chevron-related changes pressured Hess Midstream: A Chevron transaction contributed to a steep decline in Hess Midstream units, highlighting possible uncertainty for counterparties and investors as Chevron integrates or restructures assets. Hess Midstream Is Down Nearly 23% in a Month

Analyst Upgrades and Downgrades

A number of analysts have commented on CVX shares. Dbs Bank upgraded Chevron to a “moderate buy” rating in a research report on Thursday, August 6th. Jefferies Financial Group raised their target price on Chevron from $216.00 to $233.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Mizuho set a $234.00 price target on shares of Chevron in a research note on Monday, October 12th. Morgan Stanley boosted their price target on shares of Chevron from $218.00 to $226.00 and gave the company an “overweight” rating in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Chevron from $190.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Moderate Buy” and a consensus target price of $213.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its holdings in Chevron by 3.9% in the second quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock valued at $28,016,651,000 after acquiring an additional 5,998,852 shares during the last quarter. BlackRock Inc. bought a new stake in Chevron in the second quarter valued at approximately $25,663,729,000. Bank of America Corp DE increased its stake in Chevron by 5.1% in the first quarter. Bank of America Corp DE now owns 27,630,227 shares of the oil and gas company’s stock valued at $5,716,694,000 after purchasing an additional 1,334,976 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Chevron in the second quarter worth $2,378,114,000. Finally, Amundi raised its holdings in Chevron by 14.1% in the second quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock worth $2,304,109,000 after purchasing an additional 1,714,835 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Company Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.