Stephens Inc. AR Has $36.87 Million Position in Chevron Corporation $CVX

Key Points

• Stephens Inc. AR reduced its stake in Chevron Corporation by 2.2%, holding 257,493 shares worth approximately $36.87 million as of its recent SEC filing.
• Significant institutional investors have made large adjustments to their positions in Chevron, with Kingstone Capital Partners increasing its holdings by 652,139.5%, now owning over 83 million shares worth $13.2 billion.
• Chevron recently announced a quarterly dividend of $1.71, representing an annualized dividend yield of 4.5%, with a payout ratio of 88.03%.

Stephens Inc. AR cut its position in Chevron Corporation (NYSE:CVX - Free Report) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 257,493 shares of the oil and gas company's stock after selling 5,797 shares during the quarter. Stephens Inc. AR's holdings in Chevron were worth $36,870,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC increased its position 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 position 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 position 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 position 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 acquired a new position in Chevron in the 1st quarter valued at approximately $1,466,751,000. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CVX has been the subject of several recent research reports. Raymond James Financial restated an "outperform" rating and issued a $160.00 price target (down from $170.00) on shares of Chevron in a research report on Friday. Morgan Stanley initiated coverage on shares of Chevron in a research report on Monday, August 4th. They issued an "overweight" rating and a $174.00 price target for the company. TD Cowen upped their price target on shares of Chevron from $150.00 to $155.00 and gave the company a "hold" rating in a research report on Monday, August 4th. Piper Sandler upped their price target 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. Finally, Wells Fargo & Company initiated coverage on shares of Chevron in a research report on Friday. They issued an "overweight" rating and a $190.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $165.25.

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the 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 transaction, the director directly owned 1,403,045 shares of the company's stock, valued at $222,102,023.50. This represents a 21.09% 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, 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Chevron Trading Up 0.9%

NYSE:CVX opened at $153.12 on Monday. The firm's fifty day moving average is $156.03 and its 200-day moving average is $147.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The firm has a market cap of $264.58 billion, a P/E ratio of 19.71, a P/E/G ratio of 2.02 and a beta of 0.84.

Chevron (NYSE:CVX - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts' consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same period in the prior year, the firm posted $2.55 EPS. The company's quarterly revenue was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company 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. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.