LaFleur & Godfrey LLC Has $9.84 Million Stock Holdings in Chevron Corporation $CVX

Key Points

• LaFleur & Godfrey LLC reduced its stake in Chevron Corporation by 8.4% during Q2, bringing its holdings to 68,736 shares worth approximately $9.84 million.
• Certain institutional investors, notably Kingstone Capital Partners, significantly increased their positions in Chevron, with Kingstone boosting holdings by 652,139.5%, owning nearly 84 million shares valued at over $13 billion.
• Chevron reported $1.77 earnings per share for Q2, surpassing analysts' estimates of $1.58, despite a 12.4% year-over-year revenue decline, and has recently declared a quarterly dividend of $1.71 per share.

LaFleur & Godfrey LLC trimmed its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,736 shares of the oil and gas company's stock after selling 6,291 shares during the quarter. LaFleur & Godfrey LLC's holdings in Chevron were worth $9,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC increased its holdings 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 purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Chevron by 4.9% during 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. Invesco Ltd. increased its holdings in Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company's stock worth $2,652,437,000 after purchasing an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company's stock worth $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new stake in Chevron during the 1st quarter worth approximately $1,466,751,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Down 1.7%

Shares of NYSE:CVX opened at $156.11 on Monday. The stock's 50-day moving average price is $155.24 and its 200-day moving average price is $148.96. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The stock has a market capitalization of $269.76 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. 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 (NYSE:CVX - Get Free Report) last posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts' consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron's revenue for the quarter was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.55 earnings per share. On average, equities analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was 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 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. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CVX. Evercore ISI reissued an "outperform" rating and set a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. Bank of America boosted their target price on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Barclays restated an "equal weight" rating on shares of Chevron in a research note on Tuesday, July 15th. Piper Sandler boosted their target price on Chevron from $164.00 to $168.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Finally, UBS Group boosted their target price on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of "Hold" and a consensus price target of $165.05.

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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