Alpine Woods Capital Investors LLC Decreases Stock Holdings in Chevron Corporation $CVX

Alpine Woods Capital Investors LLC trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 62.6% in the 2nd quarter, Holdings Channel reports. The firm owned 2,750 shares of the oil and gas company’s stock after selling 4,610 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Chevron were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CVX. GAMMA Investing LLC raised its holdings in shares of Chevron by 27.3% during the first quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock valued at $5,408,000 after purchasing an additional 6,928 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Chevron by 10.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock valued at $189,666,000 after purchasing an additional 104,103 shares during the last quarter. Stewardship Advisors LLC purchased a new position in shares of Chevron during the first quarter valued at approximately $203,000. Keystone Wealth Services LLC purchased a new position in shares of Chevron during the first quarter valued at approximately $236,000. Finally, Crane Advisory LLC raised its holdings in shares of Chevron by 25.2% during the first quarter. Crane Advisory LLC now owns 2,821 shares of the oil and gas company’s stock valued at $472,000 after purchasing an additional 567 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $151.86 on Tuesday. The firm has a market cap of $262.42 billion, a P/E ratio of 19.54, a PEG ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a 50 day simple moving average of $156.12 and a two-hundred day simple moving average of $148.31. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last posted its quarterly 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 business 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 company’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is presently 88.03%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred 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 directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a report on Friday, August 1st. UBS Group upped their target price on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 target price on shares of Chevron in a report on Friday, August 1st. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Finally, Morgan Stanley started coverage on shares of Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus target price of $165.40.

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.