Invesco Ltd. Sells 454,479 Shares of Chevron Corporation $CVX

Invesco Ltd. reduced its position in shares of Chevron Corporation (NYSE:CVX) by 2.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,400,846 shares of the oil and gas company’s stock after selling 454,479 shares during the quarter. Chevron accounts for about 0.4% of Invesco Ltd.’s investment portfolio, making the stock its 28th biggest holding. Invesco Ltd.’s holdings in Chevron were worth $2,205,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Plan Group Financial LLC increased its holdings in Chevron by 9.6% in the 2nd quarter. Plan Group Financial LLC now owns 19,970 shares of the oil and gas company’s stock worth $2,859,000 after buying an additional 1,746 shares in the last quarter. CW Advisors LLC boosted its holdings in shares of Chevron by 0.8% during the 2nd quarter. CW Advisors LLC now owns 162,342 shares of the oil and gas company’s stock valued at $23,246,000 after acquiring an additional 1,352 shares during the last quarter. Acorns Advisers LLC grew its stake in shares of Chevron by 40.6% in the second quarter. Acorns Advisers LLC now owns 4,557 shares of the oil and gas company’s stock worth $653,000 after acquiring an additional 1,315 shares during the period. Benedict Financial Advisors Inc. raised its holdings in shares of Chevron by 1.7% during the second quarter. Benedict Financial Advisors Inc. now owns 28,839 shares of the oil and gas company’s stock valued at $4,129,000 after purchasing an additional 496 shares during the last quarter. Finally, IAG Wealth Partners LLC lifted its position in Chevron by 7.7% during the second quarter. IAG Wealth Partners LLC now owns 1,519 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 109 shares during the period. Institutional investors own 72.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Mizuho lifted their target price on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Piper Sandler dropped their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. UBS Group reiterated a “buy” rating on shares of Chevron in a research report on Monday. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Melius began coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $166.16.

Insider Activity at Chevron

In related news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total transaction of $41,456,250.00. Following the completion of the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.20% of the company’s stock.

Chevron Price Performance

NYSE CVX opened at $150.24 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The stock has a market cap of $302.52 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 9.02 and a beta of 0.68. The company’s 50 day moving average is $153.76 and its two-hundred day moving average is $151.42.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 earnings per share. As a group, research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

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.