Chevron Corporation $CVX Shares Sold by Van Hulzen Asset Management LLC

Key Points

• Van Hulzen Asset Management LLC reduced its stake in Chevron Corporation (CVX) by 6.9% during the first quarter, bringing their total shares to 24,385 with a value of approximately $4.08 million.
• Institutional investors control 72.42% of Chevron's shares, with several funds, including Sage Capital Advisors and Ignite Planners, increasing their stakes in the company during the same period.
• Chevron recently declared a quarterly dividend of $1.71, resulting in an annualized dividend yield of 4.4%, demonstrating the company's strong return to shareholders.

Van Hulzen Asset Management LLC lowered its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,385 shares of the oil and gas company's stock after selling 1,806 shares during the period. Van Hulzen Asset Management LLC's holdings in Chevron were worth $4,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sage Capital Advisors llc increased its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its holdings in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC increased its holdings in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. increased its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock valued at $24,075,000 after purchasing an additional 675 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Wall Street Analyst Weigh In

CVX has been the subject of several research reports. Melius Research assumed coverage on shares of Chevron in a report on Wednesday. They issued a "hold" rating and a $155.00 target price for the company. Hsbc Global Res downgraded shares of Chevron from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target for the company. Piper Sandler boosted their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a research note on Friday, July 18th. 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 stock has an average rating of "Hold" and an average price target of $163.95.

Chevron Trading Up 1.3%

Shares of CVX opened at $155.1660 on Friday. 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 firm's 50-day moving average is $150.97 and its two-hundred day moving average is $148.63. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market capitalization of $268.13 billion, a P/E ratio of 19.97, a PEG ratio of 2.27 and a beta of 0.87.

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 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 company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

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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