Banco Santander S.A. Has $14.72 Million Holdings in Chevron Corporation $CVX

Banco Santander S.A. cut its stake in shares of Chevron Corporation (NYSE:CVX) by 21.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,820 shares of the oil and gas company’s stock after selling 28,592 shares during the period. Banco Santander S.A.’s holdings in Chevron were worth $14,723,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Greenfield Savings Bank lifted its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares during the last quarter. Atwater Malick LLC lifted its position in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC lifted its position in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC lifted its position in Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 70 shares during the last quarter. Finally, Solstein Capital LLC increased its holdings in shares of Chevron by 3.2% during the second quarter. Solstein Capital LLC now owns 2,271 shares of the oil and gas company’s stock worth $325,000 after purchasing an additional 70 shares during the period. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CVX. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a report on Friday, July 18th. Scotiabank raised their target price on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Melius began coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a report on Monday, September 15th. Finally, Wells Fargo & Company began coverage on shares of Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Chevron has an average rating of “Hold” and an average target price of $165.25.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business’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 transaction 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. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Stock Down 0.6%

Shares of CVX opened at $155.63 on Monday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a market cap of $268.92 billion, a P/E ratio of 20.03, a P/E/G ratio of 4.42 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The firm has a 50 day simple moving average of $156.04 and a two-hundred day simple moving average of $148.48.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the previous year, the business earned $2.55 earnings per share. The company’s revenue was down 12.4% on a year-over-year basis. Research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

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.