Ballentine Partners LLC Sells 1,784 Shares of Chevron Corporation $CVX

Key Points

• Ballentine Partners LLC reduced its stake in Chevron Corporation by 4.9% during the second quarter, selling 1,784 shares, leaving it with a total of 34,614 shares valued at approximately $4.96 million.
• Several institutional investors increased their holdings in Chevron, with Two Sigma Investments LP notably boosting its position by 84.5% during the fourth quarter.
• Chevron declared a quarterly dividend of $1.71 per share, resulting in an annualized dividend yield of 4.3%, while the company's dividend payout ratio is at 88.03%.

Ballentine Partners LLC lessened its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,614 shares of the oil and gas company's stock after selling 1,784 shares during the quarter. Ballentine Partners LLC's holdings in Chevron were worth $4,956,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Bank Pictet & Cie Europe AG increased its holdings in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company's stock worth $5,212,000 after buying an additional 2,641 shares during the last quarter. Two Sigma Investments LP increased its holdings in Chevron by 84.5% during the fourth quarter. Two Sigma Investments LP now owns 35,171 shares of the oil and gas company's stock worth $5,094,000 after buying an additional 16,104 shares during the last quarter. Virtue Capital Management LLC increased its holdings in Chevron by 10.8% during the fourth quarter. Virtue Capital Management LLC now owns 3,223 shares of the oil and gas company's stock worth $467,000 after buying an additional 314 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Chevron during the fourth quarter worth $77,000. Finally, LifeWealth Investments LLC acquired a new position in Chevron during the fourth quarter worth $211,000. Institutional investors own 72.42% of the company's stock.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated 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 directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Chevron Trading Up 0.8%

CVX stock opened at $157.29 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The company's 50-day simple moving average is $155.46 and its 200 day simple moving average is $149.02. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $271.80 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the company posted $2.55 earnings per share. Chevron's revenue was down 12.4% compared to the same quarter last year. As a group, sell-side 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 was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's dividend payout ratio is 88.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CVX shares. Evercore ISI restated an "outperform" rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Scotiabank restated a "sector perform" rating and set a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $165.05.

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.

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