LSV Asset Management Has $24.97 Million Stock Holdings in Chevron Corporation $CVX

LSV Asset Management trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 14.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 174,356 shares of the oil and gas company’s stock after selling 29,940 shares during the period. LSV Asset Management’s holdings in Chevron were worth $24,966,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CVX. Harvest Fund Management Co. Ltd lifted its stake in Chevron by 420.7% during the first quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new stake in shares of Chevron in the 1st quarter valued at approximately $31,000. Quaker Wealth Management LLC raised its holdings in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after buying an additional 439 shares in the last quarter. IMG Wealth Management Inc. lifted its position in shares of Chevron by 52.3% during the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after buying an additional 91 shares during the period. Finally, Investment Management Corp VA ADV boosted its stake in Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 149 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Stock Performance

CVX stock opened at $153.55 on Wednesday. The company has a 50 day moving average price of $155.26 and a 200 day moving average price of $150.64. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. 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 stock has a market capitalization of $309.18 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last released its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the firm earned $2.48 EPS. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 21.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CVX shares. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Scotiabank boosted their price target on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. UBS Group raised their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Finally, Evercore ISI reissued an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $166.55.

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.