IFM Investors Pty Ltd Decreases Position in Chevron Corporation $CVX

Key Points

• IFM Investors Pty Ltd has reduced its stake in Chevron Corporation by 0.5%, now holding 309,496 shares valued at approximately $44.3 million.
• Chevron reported earnings of $1.77 per share for the latest quarter, exceeding analyst expectations, but its revenue decreased by 12.4% compared to the previous year.
• The company's quarterly dividend was recently declared at $1.71 per share, reflecting a 4.4% dividend yield, with a payout ratio of 88.03%.

IFM Investors Pty Ltd decreased its stake in Chevron Corporation (NYSE:CVX - Free Report) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,496 shares of the oil and gas company's stock after selling 1,635 shares during the quarter. IFM Investors Pty Ltd's holdings in Chevron were worth $44,317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd increased its stake in Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after buying an additional 122 shares during the period. Elequin Capital LP purchased a new position in Chevron during the 1st quarter valued at about $31,000. IFS Advisors LLC grew its holdings in shares of Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after buying an additional 116 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Chevron in the first quarter valued at approximately $39,000. Finally, Investment Management Corp VA ADV lifted its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock valued at $39,000 after buying an additional 149 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

Chevron Trading Up 1.9%

CVX stock traded up $3.04 during trading on Tuesday, hitting $159.09. The company had a trading volume of 1,880,477 shares, compared to its average volume of 9,153,227. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $155.33 and a 200-day moving average of $148.96. The stock has a market cap of $274.90 billion, a PE ratio of 20.47, a PEG ratio of 1.96 and a beta of 0.90.

Chevron (NYSE:CVX - Get Free Report) last issued 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. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 earnings per share. Research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.3%. Chevron's dividend payout ratio (DPR) is presently 88.03%.

Analyst Upgrades and Downgrades

CVX has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Chevron in a report on Friday, August 1st. Evercore ISI reissued an "outperform" rating and set a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Mizuho reduced their price objective on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. Melius assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Chevron currently has a consensus 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.