19,927 Chevron Corporation $CVX Shares Sold by Vestor Capital LLC

Key Points

• Vestor Capital cut its Chevron stake by 79.3% in the third quarter, selling 19,927 shares and retaining 5,194 shares valued at about $1.06 million.
• Chevron reported quarterly EPS of $5.28, beating the $4.87 consensus, while revenue rose 36.3% year over year to $65.24 billion.
• Chevron declared a quarterly dividend of $1.78 per share, equivalent to an annualized yield of 3.4%; analysts’ average rating was “Moderate Buy,” with an average price target of $221.88.

Vestor Capital LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 79.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,194 shares of the oil and gas company's stock after selling 19,927 shares during the period. Vestor Capital LLC's holdings in Chevron were worth $1,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Leuthold Group LLC increased its holdings in Chevron by 1,627.4% in the third quarter. Leuthold Group LLC now owns 43,099 shares of the oil and gas company's stock valued at $8,801,000 after buying an additional 40,604 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Chevron by 1.8% during the 3rd quarter. Retirement Systems of Alabama now owns 1,162,074 shares of the oil and gas company's stock worth $237,307,000 after acquiring an additional 21,048 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Chevron during the 3rd quarter worth about $231,000. Joseph Group Capital Management grew its position in shares of Chevron by 5.1% during the 3rd quarter. Joseph Group Capital Management now owns 26,871 shares of the oil and gas company's stock valued at $5,487,000 after acquiring an additional 1,299 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Chevron by 14.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 394,248 shares of the oil and gas company's stock valued at $81,649,000 after acquiring an additional 50,103 shares during the period. Institutional investors and hedge funds own 72.42% of the company's stock.

Chevron Stock Performance

CVX opened at $210.91 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.25 and a debt-to-equity ratio of 0.19. The company has a market cap of $416.71 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47. Chevron Corporation has a 52-week low of $146.49 and a 52-week high of $236.48. The firm's fifty day simple moving average is $215.09 and its two-hundred day simple moving average is $194.63.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, October 30th. The oil and gas company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.41. The business had revenue of $65.24 billion for the quarter, compared to analyst estimates of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. The company's revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.85 earnings per share. Equities analysts anticipate that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $7.12 dividend on an annualized basis and a yield of 3.4%. Chevron's dividend payout ratio (DPR) is currently 52.08%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CVX. JPMorgan Chase & Co. lifted their price target on Chevron from $190.00 to $222.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Bank of America increased their price target on Chevron from $210.00 to $227.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Mizuho set a $234.00 price objective on Chevron in a report on Monday, October 12th. UBS Group boosted their price objective on Chevron from $235.00 to $265.00 and gave the company a "buy" rating in a research report on Monday, November 2nd. Finally, Wall Street Zen raised Chevron from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $221.88.

Insider Activity at Chevron

In related news, CEO Michael Wirth sold 317,100 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $200.46, for a total value of $63,565,866.00. Following the transaction, the chief executive officer directly owned 26,308 shares of the company's stock, valued at approximately $5,273,701.68. This trade represents a 92.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew Walz sold 16,800 shares of Chevron stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the sale, the insider owned 14 shares in the company, valued at approximately $2,814.84. The trade was a 99.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is owned by corporate insiders.

Chevron Company Profile

Chevron Corporation NYSE: CVX is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.

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