The Manufacturers Life Insurance Company Sells 49,582 Shares of Chevron Corporation $CVX

The Manufacturers Life Insurance Company reduced its stake in Chevron Corporation (NYSE:CVX) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,053 shares of the oil and gas company’s stock after selling 49,582 shares during the period. The Manufacturers Life Insurance Company’s holdings in Chevron were worth $176,990,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC grew its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Norges Bank purchased a new stake in shares of Chevron in the 2nd quarter worth $2,721,477,000. Laurel Wealth Advisors LLC grew its position in shares of Chevron by 14,194.2% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,722,217 shares of the oil and gas company’s stock worth $532,984,000 after buying an additional 3,696,177 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Chevron by 4.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after buying an additional 1,342,723 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after acquiring an additional 1,107,628 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.5%

Chevron stock opened at $150.70 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15. The stock has a market cap of $303.44 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 8.99 and a beta of 0.68. The stock has a 50-day moving average of $152.82 and a two-hundred day moving average of $151.89. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data 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. The firm had revenue of $48.17 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $2.48 earnings per share. On average, research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Scotiabank upped their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. HSBC set a $169.00 target price on Chevron and gave the company a “buy” rating in a research report on Monday, December 1st. Mizuho boosted their price target on Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Hsbc Global Res raised Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $166.00.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 275,000 shares of the business’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 sale, the director directly owned 1,128,045 shares of the company’s stock, valued at $170,052,783.75. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.

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.