Insider Selling: Chevron Corporation (CVX) VP Sells 25,500 Shares of Stock

Chevron Corporation (NYSE:CVX) VP R. Hewitt Pate sold 25,500 shares of Chevron Corporation stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $120.00, for a total transaction of $3,060,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of Chevron Corporation (NYSE CVX) traded down 1.72% on Wednesday, reaching $118.15. 5,505,082 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $114.83 and its 200-day moving average price is $108.32. Chevron Corporation has a 52-week low of $99.87 and a 52-week high of $120.02. The stock has a market cap of $223.89 billion, a P/E ratio of 38.31 and a beta of 1.24.

Chevron Corporation (NYSE:CVX) last announced its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $34.48 billion during the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.78) EPS. Equities analysts forecast that Chevron Corporation will post $4.07 EPS for the current fiscal year.

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Several equities research analysts have recently commented on CVX shares. Macquarie cut shares of Chevron Corporation from an “outperform” rating to a “neutral” rating and set a $105.00 price target for the company. in a research report on Wednesday, June 21st. Piper Jaffray Companies reiterated a “buy” rating on shares of Chevron Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a “buy” rating and set a $130.00 price target on shares of Chevron Corporation in a research report on Tuesday, October 3rd. BidaskClub cut shares of Chevron Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company cut shares of Chevron Corporation to an “outperform” rating and lowered their price target for the stock from $124.00 to $102.00 in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Chevron Corporation presently has a consensus rating of “Hold” and a consensus price target of $119.33.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Chevron Corporation by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 139,626,287 shares of the oil and gas company’s stock worth $14,567,210,000 after buying an additional 3,920,240 shares during the period. BlackRock Inc. grew its position in shares of Chevron Corporation by 1.6% during the 2nd quarter. BlackRock Inc. now owns 124,678,992 shares of the oil and gas company’s stock worth $13,007,759,000 after buying an additional 1,975,865 shares during the period. State Street Corp grew its position in shares of Chevron Corporation by 1.1% during the 1st quarter. State Street Corp now owns 118,769,549 shares of the oil and gas company’s stock worth $12,752,287,000 after buying an additional 1,261,078 shares during the period. Capital World Investors grew its position in shares of Chevron Corporation by 9.8% during the 2nd quarter. Capital World Investors now owns 35,546,848 shares of the oil and gas company’s stock worth $3,708,603,000 after buying an additional 3,182,250 shares during the period. Finally, Northern Trust Corp grew its position in shares of Chevron Corporation by 0.6% during the 2nd quarter. Northern Trust Corp now owns 26,153,161 shares of the oil and gas company’s stock worth $2,728,558,000 after buying an additional 157,021 shares during the period. 62.72% of the stock is owned by institutional investors.

About Chevron Corporation

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.

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