JTC Employer Solutions Trustee Ltd Decreases Stock Holdings in Chevron Corporation $CVX

Key Points

• JTC Employer Solutions Trustee Ltd reduced its stake in Cheron Corporation by 79%, holding now 3,186 shares, worth approximately $456,000.
• Several hedge funds, including Harvest Fund Management, increased their stakes in Chevron, with Harvest's holding rising by 420.7%.
• Cheron recently paid a $1.71 quarterly dividend, representing an annual yield of 4.5% and a dividend payout ratio of 88.03%.

JTC Employer Solutions Trustee Ltd trimmed its position in shares of Chevron Corporation (NYSE:CVX - Free Report) by 79.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,186 shares of the oil and gas company's stock after selling 11,992 shares during the period. JTC Employer Solutions Trustee Ltd's holdings in Chevron were worth $456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd raised its holdings in shares of Chevron by 420.7% during 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 in the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV raised its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 149 shares in the last quarter. Finally, GFG Capital LLC purchased a new stake in shares of Chevron during the 2nd quarter worth approximately $42,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction 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 transaction, the vice president owned 1,181 shares of the company's stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was 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

Shares of Chevron stock opened at $153.12 on Friday. The stock's fifty day moving average is $156.03 and its two-hundred day moving average is $148.15. The company has a market capitalization of $264.58 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.00 and a beta of 0.84. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX - Get Free Report) last announced its quarterly earnings data 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.55 EPS. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend payout ratio is 88.03%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CVX shares. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They set an "overweight" rating and a $174.00 price target on the stock. TD Cowen increased their price target on Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a report on Monday, August 4th. UBS Group increased their price target on Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Piper Sandler increased their price target on Chevron from $164.00 to $168.00 and gave the company an "overweight" rating in a report on Monday, August 18th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $165.25.

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.

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