Chevron (NYSE:CVX) Insider Alana Knowles Sells 7,956 Shares

Chevron Corporation (NYSE:CVX) insider Alana Knowles sold 7,956 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $165.05, for a total transaction of $1,313,137.80. Following the completion of the sale, the insider directly owned 1,207 shares in the company, valued at approximately $199,215.35. The trade was a 86.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chevron Price Performance

CVX traded down $1.34 during midday trading on Wednesday, reaching $155.20. 13,513,096 shares of the company’s stock were exchanged, compared to its average volume of 19,001,814. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a 50-day simple moving average of $152.10 and a two-hundred day simple moving average of $153.26. The firm has a market capitalization of $312.50 billion, a price-to-earnings ratio of 21.83, a price-to-earnings-growth ratio of 10.26 and a beta of 0.70. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The company’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 EPS. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Freedom Capital cut shares of Chevron from a “hold” rating to a “strong sell” rating in a research report on Tuesday. HSBC set a $169.00 price objective on shares of Chevron and gave the stock a “buy” rating in a research note on Monday, December 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Finally, Bank of America dropped their price target on Chevron from $183.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and an average price target of $166.90.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is in active talks with the U.S. government to expand a license to operate in Venezuela, which could let the company increase crude exports to its Gulf Coast refineries and sell to third parties — a near?term commercialization path if approved. Read More.
• Positive Sentiment: Market commentary and trade flows show investors treating Chevron as a first?mover in Venezuela; TipRanks and MarketBeat note the stock’s surge on the reopening narrative and Chevron’s operational advantage handling heavy Venezuelan crude. Read More.
• Positive Sentiment: Chevron is reported to be lining up with private equity (Quantum) to bid for Lukoil’s international assets — a potential inorganic growth avenue that would expand production/asset exposure if regulatory hurdles are cleared. Read More.
• Neutral Sentiment: Unusually large options activity is tracking CVX, indicating speculative positioning and higher short?term volatility rather than clear directional conviction. Read More.
• Negative Sentiment: Analyst pushback: Freedom Capital downgraded CVX to “strong sell,” and other firms (Citigroup coverage referenced) have signaled valuation/earnings risks, weighing on sentiment after the initial rally. Read More.
• Negative Sentiment: Several analysis pieces and MarketWatch caution that rebuilding Venezuelan output will be years and billions of dollars in CapEx, with sanctions, logistics and low oil prices limiting near?term earnings upside — a key reason investors are trimming exposure. Read More.

Institutional Trading of Chevron

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Perigon Wealth Management LLC lifted its position in shares of Chevron by 19.3% during the third quarter. Perigon Wealth Management LLC now owns 73,448 shares of the oil and gas company’s stock valued at $11,406,000 after purchasing an additional 11,875 shares in the last quarter. Solitude Financial Services increased its stake in Chevron by 8.2% in the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock valued at $3,626,000 after buying an additional 1,913 shares during the last quarter. Pictet North America Advisors SA purchased a new stake in Chevron in the 3rd quarter valued at about $5,662,000. Shell Asset Management Co. lifted its position in shares of Chevron by 21.4% during the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock worth $7,319,000 after buying an additional 9,002 shares in the last quarter. Finally, Mutual Advisors LLC boosted its stake in shares of Chevron by 7.3% in the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after buying an additional 6,058 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.