John B. Hess Sells 375,000 Shares of Chevron (NYSE:CVX) Stock

Key Points

• Chevron Director John Hess sold 375,000 shares at an average price of $158.30, totaling $59.36 million, which reduced his stake by 21.09%.
• The company recently announced a quarterly dividend of $1.71 per share, translating to an annualized yield of 4.3%.
• Chevron's stock experienced a slight decrease of 0.5%, trading at $157.43, with an average rating of "Hold" from analysts and a target price of $163.95.

Chevron Corporation (NYSE:CVX - Get Free Report) Director John B. Hess sold 375,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Chevron Trading Up 0.6%

CVX stock traded up $1.02 on Friday, reaching $160.34. The company's stock had a trading volume of 2,634,274 shares, compared to its average volume of 9,274,520. The business has a fifty day simple moving average of $152.06 and a two-hundred day simple moving average of $148.80. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The firm has a market cap of $277.06 billion, a PE ratio of 20.64, a PEG ratio of 2.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 earnings per share. As a group, research analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CVX shares. Raymond James Financial restated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. HSBC downgraded Chevron from a "buy" rating to a "hold" rating and reduced their price target for the company from $176.00 to $158.00 in a report on Tuesday, May 13th. Mizuho reduced their price target on Chevron from $188.00 to $186.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron has a consensus rating of "Hold" and an average target price of $163.95.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sage Capital Advisors llc boosted its position in shares of Chevron by 2.2% during the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after acquiring an additional 919 shares during the last quarter. CCG Wealth Management LLC boosted its position in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Chevron by 14.1% during the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after acquiring an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. boosted its position in shares of Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after acquiring an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after acquiring an additional 675 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

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.