Chevron Co. (NYSE:CVX) Director Alice P. Gast Sells 2,706 Shares

Chevron Co. (NYSE:CVXGet Rating) Director Alice P. Gast sold 2,706 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $179.44, for a total value of $485,564.64. Following the completion of the transaction, the director now directly owns 21,964 shares of the company’s stock, valued at approximately $3,941,220.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Chevron Price Performance

Chevron stock opened at $185.89 on Wednesday. The stock has a market capitalization of $359.44 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.65 and a beta of 1.21. Chevron Co. has a 52-week low of $110.73 and a 52-week high of $189.68. The stock’s 50 day moving average price is $167.70 and its two-hundred day moving average price is $161.48. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.15 and a current ratio of 1.40.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, October 28th. The oil and gas company reported $5.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.22 by $0.34. Chevron had a return on equity of 22.36% and a net margin of 14.36%. The firm had revenue of $66.64 billion for the quarter, compared to analysts’ expectations of $61.44 billion. During the same period in the prior year, the business earned $2.96 EPS. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. On average, equities analysts predict that Chevron Co. will post 19.09 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Thursday, November 17th. Chevron’s payout ratio is 32.31%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James upped their price objective on Chevron from $188.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, October 31st. Credit Suisse Group reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of Chevron in a research note on Thursday, August 11th. Piper Sandler upped their target price on Chevron from $186.00 to $206.00 and gave the company an “overweight” rating in a report on Friday, November 11th. Societe Generale upgraded Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Finally, Citigroup upped their target price on Chevron from $155.00 to $180.00 in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $179.85.

Hedge Funds Weigh In On Chevron

A number of institutional investors have recently modified their holdings of CVX. Renaissance Technologies LLC raised its position in shares of Chevron by 600.7% during the second quarter. Renaissance Technologies LLC now owns 5,786,295 shares of the oil and gas company’s stock worth $837,740,000 after purchasing an additional 4,960,475 shares during the period. Vanguard Group Inc. raised its position in Chevron by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after buying an additional 4,367,157 shares during the last quarter. FMR LLC raised its position in Chevron by 62.3% in the 2nd quarter. FMR LLC now owns 11,343,585 shares of the oil and gas company’s stock valued at $1,642,325,000 after buying an additional 4,354,660 shares during the last quarter. New England Asset Management Inc. raised its position in Chevron by 106.3% in the 3rd quarter. New England Asset Management Inc. now owns 4,439,965 shares of the oil and gas company’s stock valued at $637,889,000 after buying an additional 2,288,050 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Chevron by 1,886.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,346,162 shares of the oil and gas company’s stock valued at $376,786,000 after buying an additional 2,228,072 shares during the last quarter. 69.30% of the stock is owned by institutional investors and hedge funds.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

Further Reading

Insider Buying and Selling by Quarter for Chevron (NYSE:CVX)

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