Insider Selling: Chevron Co. (NYSE:CVX) VP Sells 3,750 Shares of Stock

Chevron Co. (NYSE:CVX) VP Jeff B. Gustavson sold 3,750 shares of Chevron stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $160.23, for a total value of $600,862.50. Following the completion of the transaction, the vice president now directly owns 477 shares of the company’s stock, valued at $76,429.71. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Chevron Price Performance

CVX traded down $0.63 during trading on Thursday, reaching $156.94. The stock had a trading volume of 6,550,180 shares, compared to its average volume of 8,178,219. The stock has a market cap of $289.87 billion, a PE ratio of 14.47, a PEG ratio of 2.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 1.23. Chevron Co. has a one year low of $139.62 and a one year high of $171.70. The business has a 50-day moving average of $160.15 and a 200-day moving average of $152.38.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Chevron had a net margin of 10.21% and a return on equity of 14.40%. The business had revenue of $48.72 billion during the quarter, compared to analyst estimates of $48.42 billion. During the same period in the prior year, the business posted $3.55 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts anticipate that Chevron Co. will post 13.57 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.15%. Chevron’s dividend payout ratio is currently 59.98%.

Institutional Trading of Chevron

Institutional investors have recently modified their holdings of the company. Renaissance Investment Group LLC boosted its holdings in shares of Chevron by 12.7% during the fourth quarter. Renaissance Investment Group LLC now owns 6,187 shares of the oil and gas company’s stock worth $923,000 after purchasing an additional 697 shares during the period. Camelot Portfolios LLC bought a new position in shares of Chevron during the fourth quarter valued at approximately $254,000. Kapstone Financial Advisors LLC increased its stake in shares of Chevron by 5.3% during the fourth quarter. Kapstone Financial Advisors LLC now owns 4,216 shares of the oil and gas company’s stock valued at $626,000 after purchasing an additional 211 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Chevron by 9.0% during the third quarter. Strategic Financial Concepts LLC now owns 5,775 shares of the oil and gas company’s stock valued at $974,000 after purchasing an additional 476 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its stake in shares of Chevron by 1.7% during the fourth quarter. Guyasuta Investment Advisors Inc. now owns 216,593 shares of the oil and gas company’s stock valued at $32,307,000 after purchasing an additional 3,603 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $170.00 to $195.00 in a research report on Thursday, April 11th. Piper Sandler boosted their target price on Chevron from $180.00 to $204.00 and gave the company an “overweight” rating in a research report on Thursday, April 18th. Barclays assumed coverage on Chevron in a research report on Wednesday, April 10th. They issued an “overweight” rating and a $203.00 target price for the company. Raymond James lifted their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company lifted their price target on Chevron from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Tuesday, April 30th. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $186.10.

Chevron Company Profile

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.