Chevy Chase Trust Holdings LLC reduced its position in Chevron Corporation (NYSE:CVX - Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 873,274 shares of the oil and gas company's stock after selling 19,709 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Chevron worth $125,044,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC grew its stake in Chevron by 652,139.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company's stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in shares of Chevron in the first quarter valued at approximately $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron in the first quarter valued at approximately $1,362,232,000. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company's stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company's stock worth $316,483,000 after purchasing an additional 1,107,628 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Chevron
In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.
Chevron Stock Down 0.3%
Shares of NYSE CVX opened at $151.59 on Friday. The stock has a market cap of $261.95 billion, a P/E ratio of 19.51, a PEG ratio of 2.00 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business's fifty day simple moving average is $156.07 and its 200-day simple moving average is $148.25.
Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 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 company's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. As a group, equities analysts predict that Chevron Corporation will post 10.79 EPS 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 paid a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron's dividend payout ratio (DPR) is currently 88.03%.
Analyst Ratings Changes
Several research firms have recently commented on CVX. Evercore ISI reaffirmed an "outperform" rating and set a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. UBS Group lifted their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $178.00 price target on shares of Chevron in a research report on Friday, August 1st. Mizuho reduced their price target on shares of Chevron from $192.00 to $191.00 and set an "outperform" rating on the stock in a research report on Monday, September 15th. Finally, Barclays dropped their target price on shares of Chevron from $160.00 to $158.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $165.40.
Read Our Latest Stock Analysis on CVX
Chevron Company Profile
(
Free Report)
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.
Further Reading
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