Insider Selling: Chevron EVP Unloads 75,000 Shares of Stock (CVX)
Chevron (NYSE:CVX) EVP Michael K. Wirth unloaded 75,000 shares of Chevron stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $129.15, for a total transaction of $9,686,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
CVX has been the subject of a number of recent research reports. Analysts at Oppenheimer raised their price target on shares of Chevron from $130.00 to $140.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Chevron in a research note on Tuesday, August 26th. They now have a $134.00 price target on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Chevron from $135.00 to $144.00 in a research note on Tuesday, August 5th. They now have an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $137.14.
Chevron (NYSE:CVX) traded up 0.25% on Wednesday, hitting $127.86. The stock had a trading volume of 3,846,345 shares. Chevron has a one year low of $109.27 and a one year high of $135.10. The stock’s 50-day moving average is $129.0 and its 200-day moving average is $124.0. The company has a market cap of $242.8 billion and a P/E ratio of 12.17.
Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The company reported $2.98 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.72 by $0.26. The company had revenue of $55.58 billion for the quarter, compared to the consensus estimate of $57.38 billion. During the same quarter in the prior year, the company posted $2.77 earnings per share. On average, analysts predict that Chevron will post $10.73 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Tuesday, August 19th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.35%. The ex-dividend date is Friday, August 15th.
Chevron Corporation (NYSE:CVX) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in fully integrated petroleum operations, chemicals operations, mining activities, power generation and energy services.