Chevron (NYSE:CVX) Stock: Insider Thomas Ryder Booth Sells 6,000 Shares

Chevron Corporation (NYSE:CVX) CTO Thomas Booth sold 6,000 shares of the stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $212.14, for a total transaction of $1,272,840.00. Following the completion of the transaction, the chief technology officer owned 6,000 shares of the company’s stock, valued at $1,272,840. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chevron Price Performance

Shares of CVX traded up $3.21 during trading hours on Friday, reaching $219.56. The company had a trading volume of 7,573,015 shares, compared to its average volume of 8,354,031. The company has a current ratio of 1.34, a quick ratio of 1.07 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The firm has a 50 day simple moving average of $215.49 and a 200-day simple moving average of $195.58. The company has a market capitalization of $431.52 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 0.50 and a beta of 0.47.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.87 by $0.41. Chevron had a net margin of 11.56% and a return on equity of 14.49%. The firm had revenue of $65.24 billion for the quarter, compared to the consensus estimate of $61.82 billion. During the same quarter in the previous year, the firm earned $1.85 earnings per share. The firm’s revenue was up 36.3% on a year-over-year basis. Research analysts expect that Chevron Corporation will post 18.64 earnings per share for the current year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.2%. Chevron’s dividend payout ratio (DPR) is 52.08%.

Analysts Set New Price Targets

CVX has been the topic of several research analyst reports. William Blair initiated coverage on Chevron in a research note on Wednesday, October 28th. They set an “outperform” rating on the stock. BMO Capital Markets upped their price target on Chevron from $210.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Jefferies Financial Group raised their price objective on Chevron from $216.00 to $233.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Morgan Stanley raised their price objective on Chevron from $226.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, UBS Group lifted their price objective on Chevron from $235.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Moderate Buy” and an average target price of $222.96.

Recent Chevron Headlines

Investors following CVX have been watching these headlines:

• Positive Sentiment: Chevron plans to restart its Ralston, Iowa, biodiesel facility, restoring nearly 42 million gallons of annual capacity. A feedstock agreement with Landus Cooperative supports the restart and the company’s renewable-fuels business. Article: What’s Going on with Chevron Shares on Friday?
• Positive Sentiment: Recent quarterly results showed the strength of Chevron’s integrated business: adjusted profit nearly tripled to $10.4 billion, with refining earnings rising 333% and refinery utilization at 98%. The strength came despite production declining 2.6%. Article: Chevron’s Production Fell. Its Profit Nearly Tripled.
• Positive Sentiment: Chevron declared a quarterly dividend of $1.78 per share, equivalent to $7.12 annually and a 3.3% yield, which may appeal to income-focused investors.

Institutional Investors Weigh In On Chevron

A number of large investors have recently added to or reduced their stakes in CVX. State Street Corp increased its stake in shares of Chevron by 3.9% during the 2nd quarter. State Street Corp now owns 159,136,768 shares of the oil and gas company’s stock worth $28,016,651,000 after purchasing an additional 5,998,852 shares in the last quarter. BlackRock Inc. purchased a new stake in Chevron in the 2nd quarter valued at approximately $25,663,729,000. Bank of America Corp DE lifted its stake in Chevron by 5.1% in the 1st 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 buying an additional 1,334,976 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Chevron in the 2nd quarter valued at approximately $2,378,114,000. Finally, Amundi lifted its stake in Chevron by 14.1% in the 2nd quarter. Amundi now owns 13,900,271 shares of the oil and gas company’s stock valued at $2,304,109,000 after buying an additional 1,714,835 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

About Chevron

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.