Michael K. Wirth Sells 164,600 Shares of Chevron Co. (NYSE:CVX) Stock

Chevron Co. (NYSE:CVX) CEO Michael K. Wirth sold 164,600 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the sale, the chief executive officer now owns 4,280 shares of the company’s stock, valued at $685,356.40. This represents a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Chevron Stock Down 0.7 %

CVX stock opened at $159.61 on Wednesday. The business has a 50-day moving average of $150.23 and a 200-day moving average of $152.57. Chevron Co. has a fifty-two week low of $135.37 and a fifty-two week high of $167.11. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.07 and a quick ratio of 0.80. The stock has a market capitalization of $286.83 billion, a P/E ratio of 17.54, a P/E/G ratio of 3.63 and a beta of 1.09.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 EPS for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The firm had revenue of $50.67 billion during the quarter, compared to analysts’ expectations of $48.86 billion. During the same period in the prior year, the firm posted $3.05 earnings per share. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 annualized dividend and a yield of 4.08%. Chevron’s dividend payout ratio (DPR) is presently 71.65%.

Analyst Ratings Changes

CVX has been the subject of a number of recent analyst reports. Mizuho dropped their price objective on Chevron from $205.00 to $189.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Scotiabank lowered their price target on Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Truist Financial increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, November 4th. Barclays increased their price target on Chevron from $168.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada increased their price target on Chevron from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.93.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Rational Advisors LLC bought a new stake in Chevron in the third quarter valued at approximately $29,000. Darwin Wealth Management LLC bought a new stake in Chevron in the third quarter valued at approximately $30,000. RPg Family Wealth Advisory LLC bought a new stake in Chevron in the third quarter valued at approximately $31,000. Finally, Anfield Capital Management LLC raised its stake in Chevron by 118.0% in the second quarter. Anfield Capital Management LLC now owns 218 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 118 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

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.