Enrique Hernandez, Jr. Sells 39,773 Shares of Chevron Co. (NYSE:CVX) Stock

Chevron Co. (NYSE:CVXGet Rating) Director Enrique Hernandez, Jr. sold 39,773 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $173.99, for a total value of $6,920,104.27. Following the transaction, the director now owns 22,978 shares in the company, valued at approximately $3,997,942.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of CVX traded down $5.97 during midday trading on Wednesday, hitting $168.06. 13,085,442 shares of the stock were exchanged, compared to its average volume of 15,299,552. Chevron Co. has a 52-week low of $92.86 and a 52-week high of $175.65. The stock has a fifty day simple moving average of $165.26 and a 200 day simple moving average of $139.75. The firm has a market cap of $330.21 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.85 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.43.

Chevron (NYSE:CVXGet Rating) last released its quarterly earnings results on Friday, April 29th. The oil and gas company reported $3.36 EPS for the quarter, missing the consensus estimate of $3.44 by ($0.08). Chevron had a return on equity of 14.66% and a net margin of 11.10%. The firm had revenue of $54.37 billion for the quarter, compared to analysts’ expectations of $54.96 billion. During the same quarter in the prior year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 69.8% on a year-over-year basis. As a group, equities research analysts forecast that Chevron Co. will post 17.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Thursday, May 19th will be issued a $1.42 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $5.68 dividend on an annualized basis and a yield of 3.38%. Chevron’s dividend payout ratio (DPR) is presently 53.38%.

Large investors have recently added to or reduced their stakes in the stock. Eagle Capital Management LLC increased its position in Chevron by 3.1% during the 2nd quarter. Eagle Capital Management LLC now owns 34,480 shares of the oil and gas company’s stock worth $3,611,000 after purchasing an additional 1,047 shares during the period. Morgan Stanley lifted its stake in Chevron by 6.9% in the 2nd quarter. Morgan Stanley now owns 23,302,417 shares of the oil and gas company’s stock valued at $2,440,693,000 after buying an additional 1,513,296 shares in the last quarter. Keudell Morrison Wealth Management raised its holdings in Chevron by 1.8% in the 3rd quarter. Keudell Morrison Wealth Management now owns 19,531 shares of the oil and gas company’s stock valued at $1,981,000 after acquiring an additional 340 shares during the last quarter. EagleClaw Capital Managment LLC raised its holdings in Chevron by 19.6% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 45,471 shares of the oil and gas company’s stock valued at $4,609,000 after acquiring an additional 7,455 shares during the last quarter. Finally, Essex Financial Services Inc. increased its holdings in shares of Chevron by 21.7% during the 3rd quarter. Essex Financial Services Inc. now owns 23,863 shares of the oil and gas company’s stock worth $2,421,000 after buying an additional 4,254 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

CVX has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on Chevron from $166.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Friday, April 22nd. Barclays raised their target price on Chevron from $148.00 to $183.00 in a research report on Wednesday, March 9th. The Goldman Sachs Group raised their target price on Chevron from $154.00 to $176.00 and gave the company a “neutral” rating in a research report on Tuesday, March 15th. Wells Fargo & Company raised their target price on Chevron from $150.00 to $184.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Finally, DZ Bank upgraded Chevron from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research report on Wednesday, March 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Buy” and an average price target of $165.43.

About Chevron (Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 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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