GW Henssler & Associates Ltd. Decreases Holdings in Chevron Corporation $CVX

Key Points

• GW Henssler & Associates Ltd. has dramatically reduced its holdings in Chevron Corporation by 97.8%, ending the first quarter with only 4,592 shares, valued at $768,000.
• Chevron recently announced a quarterly dividend of $1.71 per share, which will represent an annualized yield of 4.3%.
• The company's stock has experienced a price increase of 0.8% recently and is currently trading at approximately $160.64.

GW Henssler & Associates Ltd. decreased its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 97.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,592 shares of the oil and gas company's stock after selling 201,377 shares during the period. GW Henssler & Associates Ltd.'s holdings in Chevron were worth $768,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sage Capital Advisors llc raised its holdings in Chevron by 2.2% during the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% during the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 145 shares in the last quarter. Ignite Planners LLC boosted its stake in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock worth $2,060,000 after purchasing an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. increased its holdings in shares of Chevron by 9.1% in the first 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Chevron by 0.5% during 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 period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.0%

CVX traded down $0.06 on Thursday, hitting $158.00. The company had a trading volume of 7,165,086 shares, compared to its average volume of 9,276,982. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock has a fifty day simple moving average of $153.22 and a 200-day simple moving average of $148.92. The firm has a market capitalization of $273.03 billion, a P/E ratio of 20.34, a P/E/G ratio of 2.38 and a beta of 0.90. 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 (NYSE:CVX - Get Free Report) last posted its 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 during 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%.The company's quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.55 EPS. As a group, equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

CVX has been the topic of several recent analyst reports. Wells Fargo & Company reiterated an "overweight" rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price objective for the company. Hsbc Global Res downgraded Chevron from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 13th. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They issued an "overweight" rating and a $174.00 price objective on the stock. Finally, Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $163.95.

Insider Activity

In other Chevron news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction dated 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 $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.