Chevron (NYSE:CVX) VP Sells 3,978 Shares

Key Points

• Chevron's VP, Alana Knowles, sold 3,978 shares of the company's stock for approximately $636,480, resulting in a 77.11% drop in her ownership.
• The company reported $1.77 earnings per share for the last quarter, exceeding expectations, but showed a 12.4% decline in revenue compared to the same period last year.
• Chevron is offering a quarterly dividend of $1.71 per share with an annualized basis of $6.84, providing a dividend yield of 4.3%.

Chevron Corporation (NYSE:CVX - Get Free Report) VP Alana Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Chevron Stock Performance

NYSE CVX traded down $3.84 during trading on Wednesday, hitting $157.99. The company's stock had a trading volume of 8,523,196 shares, compared to its average volume of 9,294,220. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $152.93 and a 200 day moving average price of $148.86. The firm has a market cap of $273.01 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 2.38 and a beta of 0.90. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the previous year, the firm posted $2.55 earnings per share. Chevron's revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron's payout ratio is currently 88.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its stake in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 122 shares during the last quarter. 10Elms LLP bought a new position in Chevron in the fourth quarter valued at approximately $29,000. Elequin Capital LP bought a new position in Chevron in the first quarter valued at approximately $31,000. Quaker Wealth Management LLC boosted its stake in Chevron by 197.7% in the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company's stock valued at $31,000 after acquiring an additional 439 shares during the last quarter. Finally, IFS Advisors LLC boosted its stake in Chevron by 119.6% in the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock valued at $36,000 after acquiring an additional 116 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CVX has been the topic of several analyst reports. Mizuho lowered their price target on shares of Chevron from $188.00 to $186.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Wells Fargo & Company reissued an "overweight" rating and issued a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Piper Sandler upped their price objective on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Barclays reiterated an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $163.95.

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.

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