GLOBALT Investments LLC GA Has $6.07 Million Holdings in Chevron Corporation $CVX

Key Points

• GLOBALT Investments LLC reduced its holdings in Chevron by 4.2% during Q2, ending with approximately $6.07 million in shares after selling 1,864 shares.
• Chevron's recent earnings report revealed an EPS of $1.77, surpassing estimates by $0.19, and a revenue of $44.82 billion, which is a 12.4% decrease from the previous year.
• The company declared a quarterly dividend of $1.71 on September 10, resulting in an annualized dividend yield of 4.4% and a payout ratio of 88.03%.

GLOBALT Investments LLC GA decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,378 shares of the oil and gas company's stock after selling 1,864 shares during the quarter. GLOBALT Investments LLC GA's holdings in Chevron were worth $6,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ignite Planners LLC lifted its stake 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. lifted its stake in shares of 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 acquiring an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of 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 acquiring an additional 675 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in shares of Chevron by 0.3% during the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company's stock valued at $95,231,000 after acquiring an additional 1,755 shares in the last quarter. Finally, GW&K Investment Management LLC grew its position in Chevron by 33.8% during the 1st quarter. GW&K Investment Management LLC now owns 1,260 shares of the oil and gas company's stock worth $211,000 after acquiring an additional 318 shares during the last quarter. Institutional investors own 72.42% of the company's stock.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the 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 transaction, the vice president directly owned 1,181 shares of the company's stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron 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 completion of the sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This trade 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 insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Scotiabank lifted their price target on Chevron from $160.00 to $165.00 and gave the company a "sector perform" rating in a research note on Thursday, October 9th. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a "hold" rating and a $155.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target for the company. Finally, Morgan Stanley assumed coverage on Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $165.25.

Chevron Stock Performance

Shares of CVX opened at $156.48 on Friday. The firm's fifty day simple moving average is $156.05 and its two-hundred day simple moving average is $148.25. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. 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 stock has a market capitalization of $270.39 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 4.42 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 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 analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm's revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.55 EPS. As a group, analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 4.4%. Chevron's payout ratio is currently 88.03%.

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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