Chevron (NYSE:CVX) Stock Price Down 0.7% Following Insider Selling

Shares of Chevron Co. (NYSE:CVX - Get Free Report) traded down 0.7% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $158.75 and last traded at $159.67. 852,196 shares were traded during mid-day trading, a decline of 89% from the average session volume of 7,640,277 shares. The stock had previously closed at $160.76.

Specifically, CEO Michael K. Wirth sold 164,600 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was 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 approximately $685,356.40. This trade represents a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of Chevron from $192.00 to $194.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Barclays boosted their price target on Chevron from $168.00 to $174.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Truist Financial raised their price objective on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research note on Monday, November 4th. DZ Bank upgraded Chevron from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Tuesday, November 5th. Finally, Scotiabank dropped their price target on Chevron from $180.00 to $163.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $174.93.

Chevron Stock Down 0.7 %

The firm's 50 day moving average is $150.23 and its 200-day moving average is $152.57. The firm has a market cap of $286.83 billion, a PE ratio of 17.54, a P/E/G ratio of 3.63 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.04. The company had revenue of $50.67 billion for the quarter, compared to analyst estimates of $48.86 billion. Chevron had a return on equity of 13.15% and a net margin of 8.44%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.05 EPS. As a group, equities research analysts expect that Chevron Co. will post 10.55 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Monday, November 18th. Chevron's dividend payout ratio is currently 71.65%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp raised its stake in Chevron by 0.6% during the third quarter. State Street Corp now owns 159,105,244 shares of the oil and gas company's stock worth $23,431,429,000 after purchasing an additional 874,962 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Chevron by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company's stock worth $4,581,137,000 after buying an additional 3,203,899 shares during the period. Fisher Asset Management LLC raised its position in shares of Chevron by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 19,482,388 shares of the oil and gas company's stock worth $2,869,171,000 after buying an additional 672,244 shares during the period. Ameriprise Financial Inc. boosted its holdings in Chevron by 3.0% in the second quarter. Ameriprise Financial Inc. now owns 17,111,051 shares of the oil and gas company's stock valued at $2,676,957,000 after acquiring an additional 501,969 shares during the last quarter. Finally, Capital World Investors grew its position in Chevron by 3.2% during the first quarter. Capital World Investors now owns 16,009,766 shares of the oil and gas company's stock valued at $2,525,380,000 after acquiring an additional 495,879 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

About Chevron

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.