V Square Quantitative Management LLC Lowers Position in Chevron Corporation $CVX

Key Points

• V Square Quantitative Management LLC reduced its holdings in Chevron Corporation by 50.5%, now owning 5,049 shares valued at approximately $723,000.
• Insider transactions saw VP Alana K. Knowles and Director John B. Hess sell shares, resulting in a 77.11% and 21.09% decrease in their respective ownership stakes.
• Analysts have generally optimistic views on Chevron, with the stock receiving ratings like "outperform" and "overweight," alongside a consensus price target of $165.05.

V Square Quantitative Management LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 50.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,049 shares of the oil and gas company's stock after selling 5,154 shares during the quarter. V Square Quantitative Management LLC's holdings in Chevron were worth $723,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Harvest Fund Management Co. Ltd raised its position 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 valued at $25,000 after buying an additional 122 shares in the last quarter. Elequin Capital LP purchased a new stake in Chevron during the first quarter valued at about $31,000. IFS Advisors LLC lifted its stake 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 during the last quarter. Cloud Capital Management LLC purchased a new position in shares of Chevron in the 1st quarter worth about $39,000. Finally, Investment Management Corp VA ADV increased its position 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 valued at $39,000 after purchasing an additional 149 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Chevron

In other Chevron 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 value of $636,480.00. Following the completion of the transaction, the vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the firm'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 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 position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Raymond James Financial restated an "outperform" rating on shares of Chevron in a research report on Friday, August 1st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. UBS Group upped their price target on shares of Chevron from $186.00 to $197.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Finally, TD Cowen lifted their price objective on Chevron from $150.00 to $155.00 and gave the stock a "hold" rating in a report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Chevron presently has an average rating of "Hold" and a consensus price target of $165.05.

Chevron Stock Performance

Shares of CVX stock opened at $156.13 on Tuesday. The firm has a market capitalization of $269.79 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.00 and a beta of 0.90. The stock has a fifty day moving average of $156.17 and a 200 day moving average of $149.09. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. 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 (NYSE:CVX - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. The business 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%. The company'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 earned $2.55 EPS. As a group, research analysts expect 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. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. 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.

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