Campbell & CO Investment Adviser LLC Decreases Stake in Chevron Corporation $CVX

Key Points

• Campbell & CO Investment Adviser LLC sold 8,480 shares of Chevron, reducing its holdings by 48.7% and leaving it with a total of 8,941 shares valued at approximately $1,496,000.
• Chevron's recent quarterly earnings beat expectations, reporting $1.77 earnings per share (EPS) and revenue of $44.82 billion, although it represented a decline of 12.4% compared to the previous year.
• Chevron announced a quarterly dividend of $1.71 per share, with an annualized yield of 4.3%, set to be paid to shareholders of record on August 19th.

Campbell & CO Investment Adviser LLC cut its stake in shares of Chevron Corporation (NYSE:CVX - Free Report) by 48.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,941 shares of the oil and gas company's stock after selling 8,480 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Chevron were worth $1,496,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. CoreCap Advisors LLC lifted its holdings in Chevron by 0.3% during the 4th quarter. CoreCap Advisors LLC now owns 28,248 shares of the oil and gas company's stock worth $4,091,000 after buying an additional 71 shares during the period. GDS Wealth Management lifted its holdings in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company's stock worth $285,000 after buying an additional 72 shares during the period. AIMZ Investment Advisors LLC lifted its holdings in Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company's stock worth $298,000 after buying an additional 72 shares during the period. Clayton Financial Group LLC lifted its holdings in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company's stock worth $285,000 after buying an additional 75 shares during the period. Finally, Gill Capital Partners LLC lifted its holdings in Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company's stock worth $271,000 after buying an additional 75 shares during the period. 72.42% of the stock is owned by institutional investors.

Chevron Stock Up 0.8%

Shares of CVX stock traded up $1.32 on Friday, reaching $160.64. 6,932,144 shares of the company were exchanged, compared to its average volume of 8,059,229. The company has a market cap of $277.59 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.38 and a beta of 0.87. The company has a 50-day moving average of $152.29 and a 200-day moving average of $148.78. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The firm's revenue was down 12.4% compared to the same quarter last year. Analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, August 19th. Chevron's dividend payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the sale, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This represents a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on CVX. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research report on Tuesday, July 15th. HSBC cut shares of Chevron from a "buy" rating to a "hold" rating and cut their price target for the company from $176.00 to $158.00 in a research report on Tuesday, May 13th. Hsbc Global Res cut shares of Chevron from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Melius Research started coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $163.95.

About Chevron

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.