Chevron Co. (NYSE:CVX) CEO Sells $26,357,398.00 in Stock

Chevron Co. (NYSE:CVX) CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Chevron Stock Up 0.6 %

Chevron stock opened at $160.78 on Tuesday. The firm has a market capitalization of $288.94 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.63 and a beta of 1.09. The stock’s fifty day simple moving average is $149.80 and its 200-day simple moving average is $152.57. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, November 1st. The oil and gas company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same quarter last year, the business posted $3.05 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Monday, November 18th. Chevron’s dividend payout ratio is presently 71.65%.

Institutional Investors Weigh In On Chevron

Several institutional investors have recently modified their holdings of CVX. State Street Corp boosted its position in shares of Chevron by 0.6% during the 3rd quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company’s stock worth $23,431,429,000 after acquiring an additional 874,962 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock valued at $4,581,137,000 after purchasing an additional 3,203,899 shares in the last quarter. Fisher Asset Management LLC increased its stake in Chevron by 3.6% in the third quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company’s stock valued at $2,869,171,000 after purchasing an additional 672,244 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Chevron by 3.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company’s stock worth $2,676,957,000 after buying an additional 501,969 shares during the last quarter. Finally, Capital World Investors boosted its holdings in shares of Chevron by 3.2% in the 1st quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company’s stock valued at $2,525,380,000 after buying an additional 495,879 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CVX shares. Wells Fargo & Company lowered their price objective on Chevron from $196.00 to $169.00 and set an “overweight” rating on the stock in a research note on Friday, September 27th. Barclays upped their price objective on shares of Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, November 4th. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Mizuho dropped their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Royal Bank of Canada upped their price objective on Chevron from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average target price of $174.93.

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.