Chevron Co. (NYSE:CVX) VP Jeff B. Gustavson Sells 9,325 Shares

Chevron Co. (NYSE:CVX) VP Jeff B. Gustavson sold 9,325 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $152.50, for a total transaction of $1,422,062.50. Following the completion of the sale, the vice president now owns 1,057 shares of the company’s stock, valued at $161,192.50. The trade was a 89.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Chevron Price Performance

Chevron stock traded up $1.66 during mid-day trading on Tuesday, hitting $157.43. 6,008,963 shares of the company were exchanged, compared to its average volume of 7,639,968. Chevron Co. has a 1-year low of $135.37 and a 1-year high of $167.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $152.08 and a 200 day moving average of $150.81. The company has a market capitalization of $282.91 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.36). Chevron had a net margin of 8.71% and a return on equity of 11.44%. During the same quarter last year, the business earned $3.45 earnings per share. As a group, sell-side analysts expect that Chevron Co. will post 10.84 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio is presently 67.08%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CVX shares. Bank of America started coverage on shares of Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target for the company. Wells Fargo & Company decreased their target price on Chevron from $188.00 to $184.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. DZ Bank raised Chevron from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Tuesday, November 5th. Truist Financial reduced their price objective on Chevron from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $175.00 target price on shares of Chevron in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Hedge Funds Weigh In On Chevron

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC increased its stake in shares of Chevron by 15.1% in the 3rd quarter. Sound Income Strategies LLC now owns 7,054 shares of the oil and gas company’s stock valued at $1,039,000 after acquiring an additional 928 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Chevron by 14.4% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 439,345 shares of the oil and gas company’s stock valued at $64,702,000 after purchasing an additional 55,350 shares in the last quarter. High Net Worth Advisory Group LLC boosted its position in shares of Chevron by 3.3% during the third quarter. High Net Worth Advisory Group LLC now owns 13,451 shares of the oil and gas company’s stock worth $1,981,000 after purchasing an additional 435 shares in the last quarter. Capricorn Fund Managers Ltd grew its holdings in shares of Chevron by 34.0% in the 3rd quarter. Capricorn Fund Managers Ltd now owns 40,615 shares of the oil and gas company’s stock valued at $5,981,000 after buying an additional 10,306 shares during the period. Finally, Smith Chas P & Associates PA Cpas increased its position in shares of Chevron by 5.4% in the 3rd quarter. Smith Chas P & Associates PA Cpas now owns 16,175 shares of the oil and gas company’s stock valued at $2,382,000 after buying an additional 832 shares in the last quarter. 72.42% of the stock is 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.