Clifford Swan Investment Counsel LLC Has $45.81 Million Stock Holdings in Chevron Corporation $CVX

Clifford Swan Investment Counsel LLC reduced its stake in Chevron Corporation (NYSE:CVX - Free Report) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 319,937 shares of the oil and gas company's stock after selling 4,005 shares during the period. Chevron accounts for 1.6% of Clifford Swan Investment Counsel LLC's holdings, making the stock its 11th biggest holding. Clifford Swan Investment Counsel LLC's holdings in Chevron were worth $45,812,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC raised its stake in Chevron by 652,139.5% during the 2nd 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 buying an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in shares of Chevron during the first quarter valued at approximately $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron during the first quarter worth approximately $1,362,232,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 grew its position 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 valued at $316,483,000 after purchasing an additional 1,107,628 shares during the period. Institutional investors own 72.42% of the company's stock.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the sale, the vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Chevron Stock Performance

CVX stock opened at $155.45 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The firm has a market cap of $268.61 billion, a PE ratio of 20.01, a P/E/G ratio of 2.05 and a beta of 0.84. The business has a 50 day moving average of $156.03 and a 200-day moving average of $148.13. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last issued its quarterly 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 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 quarterly revenue was down 12.4% compared to the same quarter last year. During the same period last year, the company posted $2.55 earnings per share. As a group, sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have weighed in on CVX shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research note on Friday, October 17th. Mizuho cut their price target on Chevron from $192.00 to $191.00 and set an "outperform" rating for the company in a research note on Monday, September 15th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a research note on Monday, August 4th. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Finally, Wells Fargo & Company started coverage on Chevron in a report on Friday, October 17th. They set an "overweight" rating and a $190.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $165.25.

Chevron 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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