Investors Buy Chevron (CVX) on Weakness Following Insider Selling

Investors bought shares of Chevron Co. (NYSE:CVX) on weakness during trading on Thursday after an insider sold shares in the company. $223.05 million flowed into the stock on the tick-up and $121.77 million flowed out of the stock on the tick-down, for a money net flow of $101.28 million into the stock. Of all stocks tracked, Chevron had the 8th highest net in-flow for the day. Chevron traded down ($2.09) for the day and closed at $126.61Specifically, VP R. Hewitt Pate sold 25,500 shares of the stock in a transaction dated Tuesday, April 17th. The stock was sold at an average price of $121.97, for a total value of $3,110,235.00. Following the completion of the sale, the vice president now owns 25,500 shares in the company, valued at $3,110,235. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James William Johnson sold 9,500 shares of the stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $129.44, for a total value of $1,229,680.00. Following the completion of the sale, the insider now owns 9,500 shares of the company’s stock, valued at approximately $1,229,680. The disclosure for this sale can be found here. In the last quarter, insiders sold 386,500 shares of company stock valued at $49,748,880. Insiders own 0.38% of the company’s stock.

A number of research firms have recently issued reports on CVX. Credit Suisse Group increased their target price on Chevron from $129.00 to $132.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Piper Jaffray Companies reiterated a “buy” rating and issued a $140.00 target price on shares of Chevron in a research note on Monday, April 23rd. Vetr upgraded Chevron from a “hold” rating to a “buy” rating and set a $117.38 target price for the company in a research note on Tuesday, April 3rd. Royal Bank of Canada restated a “hold” rating and set a $130.00 price objective on shares of Chevron in a research note on Friday, April 13th. Finally, Barclays raised their price objective on Chevron from $135.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, April 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $131.92.

The company has a debt-to-equity ratio of 0.21, a current ratio of 1.04 and a quick ratio of 0.84. The firm has a market capitalization of $244.95 billion, a P/E ratio of 34.22, a P/E/G ratio of 2.43 and a beta of 1.14.

Chevron (NYSE:CVX) last released its earnings results on Friday, April 27th. The oil and gas company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.45. Chevron had a return on equity of 5.83% and a net margin of 6.95%. The company had revenue of $37.76 billion for the quarter, compared to the consensus estimate of $40.34 billion. During the same quarter last year, the business posted $1.23 EPS. Chevron’s quarterly revenue was up 13.0% compared to the same quarter last year. sell-side analysts predict that Chevron Co. will post 7.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 18th will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Thursday, May 17th. Chevron’s dividend payout ratio is presently 121.08%.

A number of large investors have recently added to or reduced their stakes in CVX. Advisors Preferred LLC bought a new stake in shares of Chevron in the 1st quarter worth approximately $110,000. Earnest Partners LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $114,000. Virtue Capital Management LLC bought a new stake in shares of Chevron in the 4th quarter worth approximately $128,000. Litman Gregory Asset Management LLC lifted its holdings in shares of Chevron by 566.9% in the 1st quarter. Litman Gregory Asset Management LLC now owns 1,147 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 975 shares during the last quarter. Finally, Point72 Asia Hong Kong Ltd lifted its holdings in shares of Chevron by 20,716.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,249 shares of the oil and gas company’s stock worth $142,000 after purchasing an additional 1,243 shares during the last quarter. 64.42% of the stock is currently owned by institutional investors.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, and production of crude oil and natural gas; processing, liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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