Great Lakes Advisors LLC Has $34.69 Million Position in Chevron Corporation $CVX

Key Points

• Great Lakes Advisors LLC has reduced its stake in Chemron Corporation by 3.6%, owning 207,358 shares valued at approximately $34.7 million after selling 7,789 shares.
• Several institutional investors, including GQG Partners LLC and Canada Pension Plan Investment Board, have significantly increased their positions in Chevron, with the latter boosting its stake by 141.2%.
• Chevron has announced a quarterly dividend of $1.71 per share, equating to an annualized dividend yield of 4.4%, with a payout ratio currently at 88.03%.

Great Lakes Advisors LLC trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 207,358 shares of the oil and gas company's stock after selling 7,789 shares during the quarter. Great Lakes Advisors LLC's holdings in Chevron were worth $34,689,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 122 shares during the last quarter. 10Elms LLP purchased a new stake in Chevron in the 4th quarter valued at $29,000. Elequin Capital LP purchased a new position in shares of Chevron in the 1st quarter valued at approximately $31,000. IFS Advisors LLC raised its holdings in Chevron by 119.6% during the first quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company's stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth $39,000. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVX. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Evercore ISI reaffirmed an "outperform" rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler upped their price objective on shares of Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target on the stock. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Chevron in a research note on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Chevron has an average rating of "Hold" and a consensus price target of $164.80.

Insider Buying and Selling at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John B. Hess sold 375,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Chevron Stock Up 1.9%

NYSE:CVX traded up $2.91 during trading hours on Wednesday, hitting $157.76. 7,373,698 shares of the company's stock traded hands, compared to its average volume of 7,959,098. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $272.60 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.30 and a beta of 0.90. The stock's fifty day moving average price is $154.09 and its two-hundred day moving average price is $148.82. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate 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 posted $2.55 earnings per share. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.