Chevron Corporation $CVX is Stack Financial Management Inc's 6th Largest Position

Key Points

• Stack Financial Management Inc has decreased its holdings in Chevron Corporation (NYSE:CVX) by 1.2%, now owning 274,987 shares, which accounts for approximately 3.5% of its total portfolio.
• Chevron recently declared a quarterly dividend of $1.71 per share, yielding 4.6% annually, with a payout ratio of 88.03%.
• Analysts' price targets for Chevron have been revised, with Piper Sandler setting a new target of $168.00 and UBS Group raising theirs to $197.00, reflecting a generally positive outlook despite recent market fluctuations.

Stack Financial Management Inc trimmed its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 274,987 shares of the oil and gas company's stock after selling 3,350 shares during the quarter. Chevron accounts for about 3.5% of Stack Financial Management Inc's holdings, making the stock its 6th largest position. Stack Financial Management Inc's holdings in Chevron were worth $39,375,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CVX. Greenfield Savings Bank grew its position in Chevron by 0.6% during the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company's stock worth $1,663,000 after buying an additional 68 shares in the last quarter. Atwater Malick LLC grew its position in Chevron by 2.4% during the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company's stock worth $413,000 after buying an additional 68 shares in the last quarter. Hubbell Strickland Wealth Management LLC grew its position in Chevron by 0.7% during the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company's stock worth $1,443,000 after buying an additional 68 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in Chevron by 4.1% during the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company's stock worth $260,000 after buying an additional 71 shares in the last quarter. Finally, GDS Wealth Management grew its position in Chevron by 4.4% during the first 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 in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the business'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 owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on CVX. Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Barclays dropped their price target on Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 7th. Finally, Melius assumed 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. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $165.40.

Chevron Trading Down 1.7%

Shares of CVX stock opened at $149.11 on Monday. The business has a 50-day moving average of $156.10 and a 200 day moving average of $148.41. 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 1-year low of $132.04 and a 1-year high of $168.96. The stock has a market capitalization of $257.66 billion, a PE ratio of 19.19, a P/E/G ratio of 1.93 and a beta of 0.84.

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

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's payout ratio is 88.03%.

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.

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