Chevron Corporation $CVX Shares Sold by Wilmington Savings Fund Society FSB

Key Points

• Wilmington Savings Fund Society FSB reduced its holdings in Chevron (CVX) by 5.5%, selling 8,446 shares and leaving it with 144,730 shares valued at $20.7 million.
• Chemical and oil company Chevron reported $1.77 EPS for the last quarter, outperforming estimates of $1.58, despite a 12.4% year-over-year revenue decline.
• The quarterly dividend of $1.71 per share was recently declared, representing a dividend yield of 4.5% and a payout ratio of 88.03%.

Wilmington Savings Fund Society FSB trimmed its position in Chevron Corporation (NYSE:CVX - Free Report) by 5.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,730 shares of the oil and gas company's stock after selling 8,446 shares during the period. Wilmington Savings Fund Society FSB's holdings in Chevron were worth $20,724,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% during the first 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 acquired a new position in shares of Chevron during the first quarter worth approximately $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron during the first quarter worth approximately $39,000. Investment Management Corp VA ADV boosted its position in shares of 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 worth $39,000 after buying an additional 149 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Chevron during the first quarter worth approximately $45,000. Institutional investors own 72.42% of the company's stock.

Chevron Price Performance

NYSE CVX opened at $151.86 on Tuesday. The stock has a market capitalization of $262.42 billion, a P/E ratio of 19.54, a P/E/G ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business's fifty day moving average is $156.12 and its two-hundred day moving average is $148.31. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The company 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 firm's revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal 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 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 4.5%. Chevron's dividend payout ratio is currently 88.03%.

Insider Buying and Selling at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction on Friday, August 22nd. The shares were 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. 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 through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Bank of America boosted their price objective on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research report on Wednesday, September 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Chevron in a research report on Wednesday, October 8th. Mizuho lowered their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $165.40.

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.

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