Chevron (NYSE:CVX) Shares Down 0.7% on Insider Selling

Chevron Co. (NYSE:CVX) dropped 0.7% on Tuesday following insider selling activity. The company traded as low as $158.75 and last traded at $159.67. Approximately 852,196 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 7,640,277 shares. The stock had previously closed at $160.76.

Specifically, CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total transaction of $26,357,398.00. Following the completion of the sale, the chief executive officer now directly owns 4,280 shares in the company, valued at $685,356.40. This represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Chevron from $196.00 to $169.00 and set an “overweight” rating for the company in a report on Friday, September 27th. DZ Bank upgraded shares of Chevron from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a report on Tuesday, November 5th. Barclays increased their target price on shares of Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Truist Financial increased their target price on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

Chevron Trading Down 0.7 %

The stock has a market cap of $286.83 billion, a PE ratio of 17.54, a PEG ratio of 3.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The company’s fifty day moving average is $150.23 and its 200-day moving average is $152.57.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion for the quarter, compared to the consensus estimate of $48.86 billion. During the same period last year, the firm posted $3.05 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, analysts predict that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC grew its holdings in Chevron by 5.8% during the 3rd quarter. McIlrath & Eck LLC now owns 1,434 shares of the oil and gas company’s stock worth $211,000 after acquiring an additional 78 shares in the last quarter. Second Line Capital LLC grew its holdings in Chevron by 77.7% during the 3rd quarter. Second Line Capital LLC now owns 30,015 shares of the oil and gas company’s stock worth $4,420,000 after acquiring an additional 13,126 shares in the last quarter. Soltis Investment Advisors LLC grew its holdings in Chevron by 76.7% during the 3rd quarter. Soltis Investment Advisors LLC now owns 70,756 shares of the oil and gas company’s stock worth $10,420,000 after acquiring an additional 30,718 shares in the last quarter. Empire Financial Management Company LLC boosted its holdings in shares of Chevron by 0.5% in the 3rd quarter. Empire Financial Management Company LLC now owns 20,881 shares of the oil and gas company’s stock valued at $3,075,000 after buying an additional 105 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Chevron by 12.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 65,754 shares of the oil and gas company’s stock valued at $9,701,000 after buying an additional 7,341 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

About Chevron

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.