In a recent transaction on April 25th, Alana K. Knowles (NYSE:KN), Vice President and Controller of Chevron Corp (NYSE:NYSE:CVX), sold 2,800 shares of the company's common stock at an average price of $165.00 per share, totaling $462,000. The sale was conducted under a prearranged 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material non-public information.
On the same day, Knowles also acquired 2,800 shares of Chevron stock at a price of $110.37 per share, amounting to a total transaction value of $309,036. It is important to note that this transaction was not a market purchase but was related to the exercise of options as part of the company's compensation plan.
Following these transactions, Knowles' direct ownership in Chevron common stock has decreased to 276 shares. Additionally, Knowles has an indirect ownership of 12,026 shares through a 401(k) plan.
Chevron investors and market watchers often monitor insider buying and selling as it can provide insights into how the company's top executives view the stock's valuation and prospects.
Chevron Corp, with its headquarters located at 6001 Bollinger Canyon Road, San Ramon, California, is a leading player in the petroleum refining industry. The transactions reported in this article are filed with the Securities and Exchange Commission and are publicly accessible for investor review.
InvestingPro Insights
Amidst the recent insider transactions at Chevron Corp (NYSE:CVX), investors are keenly observing the company's performance metrics and future outlook. Chevron's commitment to returning value to shareholders is evident from its impressive track record of increasing dividends for 36 consecutive years, as highlighted by one of the InvestingPro Tips. This consistency is a strong signal of the company’s financial health and management’s confidence in its future cash flows, which can sufficiently cover interest payments. Moreover, the fact that 11 analysts have revised their earnings upwards for the upcoming period suggests a positive sentiment around the company's prospects.
Analyzing the real-time data from InvestingPro, Chevron's market capitalization stands robust at 306.78 billion USD, reflecting its significant presence in the oil, gas, and consumable fuels industry. The company's Price/Earnings (P/E) ratio is currently 15.24, with a slightly more attractive adjusted P/E ratio for the last twelve months as of Q1 2024 at 14.13, indicating a potentially favorable valuation relative to earnings. Additionally, Chevron's dividend yield as of the beginning of 2024 is an attractive 3.93%, coupled with a dividend growth of 7.95% in the last twelve months as of Q1 2024, further reinforcing the company's appeal to income-focused investors.
For those interested in gaining deeper insights and more InvestingPro Tips, there are additional tips available on the InvestingPro platform, which could provide further guidance on Chevron's stock performance and investment potential. Remember to use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more valuable information to inform your investment decisions.
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