Traders Sell Chevron Corporation (NYSE:CVX) on Strength (NYSE:CVX)

Investors sold shares of Chevron Corporation (NYSE:CVX) on strength during trading on Tuesday. $136.60 million flowed into the stock on the tick-up and $192.07 million flowed out of the stock on the tick-down, for a money net flow of $55.47 million out of the stock. Of all equities tracked, Chevron Corporation had the 0th highest net out-flow for the day. Chevron Corporation traded up $1.59 for the day and closed at $110.78

CVX has been the subject of several research analyst reports. BNP Paribas upgraded Chevron Corporation from an “underperform” rating to a “neutral” rating and set a $105.00 price objective for the company in a research report on Monday, August 7th. Piper Jaffray Companies reissued a “buy” rating on shares of Chevron Corporation in a report on Thursday, August 3rd. Zacks Investment Research raised Chevron Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Scotiabank set a $115.00 target price on Chevron Corporation and gave the company a “buy” rating in a report on Monday, July 31st. Finally, TheStreet lowered Chevron Corporation from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $116.80.

The firm’s 50 day moving average is $106.43 and its 200 day moving average is $107.47. The firm has a market cap of $201.78 billion, a PE ratio of 34.53 and a beta of 1.23.

Chevron Corporation (NYSE:CVX) last issued its quarterly earnings data on Friday, July 28th. The oil and gas company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.02. The business had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $32.77 billion. Chevron Corporation had a return on equity of 4.13% and a net margin of 4.50%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.78) EPS. On average, analysts expect that Chevron Corporation will post $3.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Friday, August 18th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Chevron Corporation’s payout ratio is presently 140.26%.

In other news, insider James William Johnson sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the completion of the transaction, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linnet F. Deily sold 2,312 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $107.38, for a total value of $248,262.56. The disclosure for this sale can be found here. Insiders have sold a total of 72,312 shares of company stock worth $8,008,343 in the last ninety days. 0.38% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Chevron Corporation by 2.9% in the second 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 last quarter. BlackRock Inc. boosted its position in Chevron Corporation by 1.6% in the second 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 last quarter. State Street Corp boosted its position in Chevron Corporation by 1.1% in the first 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 last quarter. Capital World Investors boosted its position in Chevron Corporation by 9.8% in the second 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 last quarter. Finally, Northern Trust Corp boosted its position in Chevron Corporation by 0.6% in the second 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 last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.

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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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