Stonegate Investment Group LLC Lowers Stock Holdings in Chevron Corporation $CVX

Stonegate Investment Group LLC cut its stake in Chevron Corporation (NYSE:CVX) by 0.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 792,965 shares of the oil and gas company’s stock after selling 4,221 shares during the quarter. Chevron makes up about 2.9% of Stonegate Investment Group LLC’s holdings, making the stock its 8th biggest holding. Stonegate Investment Group LLC’s holdings in Chevron were worth $123,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Vishria Bird Financial Group LLC lifted its holdings in shares of Chevron by 1.2% during the third quarter. Vishria Bird Financial Group LLC now owns 5,285 shares of the oil and gas company’s stock valued at $821,000 after acquiring an additional 65 shares during the period. Nexus Investment Management ULC grew its holdings in shares of Chevron by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 7,641 shares of the oil and gas company’s stock worth $1,187,000 after purchasing an additional 65 shares during the last quarter. Scott & Selber Inc. increased its position in shares of Chevron by 0.5% during the 3rd quarter. Scott & Selber Inc. now owns 13,391 shares of the oil and gas company’s stock worth $2,079,000 after purchasing an additional 65 shares in the last quarter. White Knight Strategic Wealth Advisors LLC lifted its holdings in Chevron by 3.0% during the 2nd quarter. White Knight Strategic Wealth Advisors LLC now owns 2,230 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 65 shares during the last quarter. Finally, William B. Walkup & Associates Inc. lifted its holdings in Chevron by 1.0% during the 3rd quarter. William B. Walkup & Associates Inc. now owns 6,356 shares of the oil and gas company’s stock valued at $987,000 after purchasing an additional 66 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CVX shares. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Freedom Capital downgraded Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Wells Fargo & Company increased their price target on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Piper Sandler cut their price objective on Chevron from $178.00 to $174.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Chevron in a research note on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $170.00.

Insider Transactions at Chevron

In other Chevron news, insider Alana K. Knowles sold 3,200 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $168.00, for a total transaction of $537,600.00. Following the completion of the sale, the insider directly owned 1,207 shares of the company’s stock, valued at approximately $202,776. The trade was a 72.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael K. Wirth sold 320,700 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $162.99, for a total transaction of $52,270,893.00. Following the completion of the transaction, the chief executive officer directly owned 14,450 shares in the company, valued at $2,355,205.50. This trade represents a 95.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 635,190 shares of company stock valued at $100,254,408. 0.20% of the stock is owned by company insiders.

Chevron Stock Performance

Shares of Chevron stock opened at $167.36 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.15 and a quick ratio of 0.86. The firm has a 50 day simple moving average of $154.77 and a 200 day simple moving average of $154.93. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $169.37. The firm has a market cap of $336.99 billion, a P/E ratio of 23.54, a P/E/G ratio of 11.38 and a beta of 0.70.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company earned $2.48 EPS. Sell-side analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were given a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.