Chevron (NYSE:CVX) Stock Price Down 1% After Insider Selling

Chevron Co. (NYSE:CVX) fell 1% during mid-day trading on Tuesday following insider selling activity. The company traded as low as $164.17 and last traded at $164.62. 1,578,668 shares traded hands during trading, a decline of 81% from the average session volume of 8,367,650 shares. The stock had previously closed at $166.33.

Specifically, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVX shares. Scotiabank raised Chevron from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $170.00 to $195.00 in a research report on Thursday, April 11th. Truist Financial dropped their price objective on Chevron from $168.00 to $156.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Royal Bank of Canada raised their target price on shares of Chevron from $185.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Chevron in a research report on Monday, April 1st. Finally, TD Cowen boosted their price objective on shares of Chevron from $155.00 to $160.00 and gave the stock a “hold” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and an average target price of $185.65.

Chevron Stock Down 1.3 %

The company has a quick ratio of 1.01, a current ratio of 1.27 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $304.96 billion, a P/E ratio of 15.11, a PEG ratio of 2.44 and a beta of 1.12. The firm has a 50 day simple moving average of $156.81 and a two-hundred day simple moving average of $151.70.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.38% and a net margin of 10.21%. Chevron’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $3.55 EPS. On average, equities research analysts expect that Chevron Co. will post 13.58 earnings per share for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 17th will be given a $1.63 dividend. The ex-dividend date is Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 3.97%. Chevron’s dividend payout ratio (DPR) is currently 59.98%.

Hedge Funds Weigh In On Chevron

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Chevron during the 4th quarter worth approximately $2,902,007,000. Berkshire Hathaway Inc boosted its stake in Chevron by 14.4% during the fourth quarter. Berkshire Hathaway Inc now owns 126,093,326 shares of the oil and gas company’s stock worth $18,808,081,000 after acquiring an additional 15,845,037 shares in the last quarter. Capital World Investors grew its holdings in Chevron by 43.5% in the fourth quarter. Capital World Investors now owns 15,513,887 shares of the oil and gas company’s stock worth $2,314,070,000 after purchasing an additional 4,700,289 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Chevron by 73,888.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,602,805 shares of the oil and gas company’s stock valued at $686,554,000 after purchasing an additional 4,596,584 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Chevron by 15,548.2% during the fourth quarter. International Assets Investment Management LLC now owns 3,202,411 shares of the oil and gas company’s stock valued at $4,776,720,000 after purchasing an additional 3,181,946 shares during the period. Institutional investors own 72.42% of the company’s stock.

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.