Chevron Corporation $CVX Shares Purchased by Managed Asset Portfolios LLC

Managed Asset Portfolios LLC raised its stake in shares of Chevron Corporation (NYSE:CVX) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,311 shares of the oil and gas company’s stock after acquiring an additional 3,395 shares during the period. Chevron makes up 2.5% of Managed Asset Portfolios LLC’s investment portfolio, making the stock its 19th biggest holding. Managed Asset Portfolios LLC’s holdings in Chevron were worth $19,232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CVX. Ignite Planners LLC raised its holdings in Chevron by 14.1% during the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. GW&K Investment Management LLC boosted its holdings in Chevron by 33.8% in the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company’s stock valued at $211,000 after purchasing an additional 318 shares in the last quarter. Solitude Financial Services increased its position in Chevron by 8.2% during the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after purchasing an additional 1,913 shares during the period. Mutual Advisors LLC raised its stake in shares of Chevron by 7.3% during the 2nd quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after buying an additional 6,058 shares in the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of Chevron by 21.4% in the 2nd quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after buying an additional 9,002 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

CVX has been the topic of a number of analyst reports. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. TD Cowen raised their target price on Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a report on Monday, August 4th. Piper Sandler lowered their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Mizuho increased their price target on shares of Chevron from $191.00 to $204.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Finally, Raymond James Financial reissued an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Eleven research analysts have rated the stock with 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, the company presently has an average rating of “Hold” and a consensus target price of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $153.55 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $155.26 and its 200 day moving average price is $150.64. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The stock has a market cap of $309.18 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same quarter in the prior year, the firm earned $2.48 earnings per share. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

About Chevron

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.