Cascade Investment Advisors Inc. cut its stake in Chevron Corporation (NYSE:CVX – Free Report) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,177 shares of the oil and gas company’s stock after selling 145 shares during the period. Cascade Investment Advisors Inc.’s holdings in Chevron were worth $1,171,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Kingstone Capital Partners Texas LLC grew its stake in shares of Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC bought a new position in shares of Chevron in the first quarter valued at approximately $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron during the first quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
CVX has been the topic of a number of research reports. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Barclays reduced their target price on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Scotiabank increased their price objective on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average price target of $165.40.
Chevron Price Performance
NYSE CVX opened at $149.11 on Monday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a 50 day moving average price of $156.10 and a two-hundred day moving average price of $148.41. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84.
Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 EPS. As a group, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.
Chevron Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is presently 88.03%.
Insider Activity at Chevron
In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
Chevron 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.
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