Voya Investment Management LLC Has $330.98 Million Stake in Chevron Corporation $CVX

Key Points

• Voya Investment Management LLC reduced its Chevron holdings by 27.8%, now owning 1,979,439 shares worth approximately $330.98 million.
• Chevron announced a dividend payout of $1.71 per share, resulting in a yield of 4.3% with an annualized dividend of $6.84.
• Chevron's stock performance includes a market capitalization of $273.47 billion and a PE ratio of 20.37, with earnings beating estimates by $0.19 in the last quarter.

Voya Investment Management LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,979,439 shares of the oil and gas company's stock after selling 761,470 shares during the quarter. Voya Investment Management LLC owned 0.11% of Chevron worth $330,982,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Howe & Rusling Inc. raised its stake in Chevron by 0.3% during the first quarter. Howe & Rusling Inc. now owns 47,748 shares of the oil and gas company's stock worth $7,988,000 after acquiring an additional 152 shares in the last quarter. Maple Capital Management Inc. raised its stake in Chevron by 2.7% during the first quarter. Maple Capital Management Inc. now owns 162,849 shares of the oil and gas company's stock worth $27,243,000 after acquiring an additional 4,226 shares in the last quarter. Lynx Investment Advisory raised its stake in Chevron by 24.5% during the first quarter. Lynx Investment Advisory now owns 6,258 shares of the oil and gas company's stock worth $1,047,000 after acquiring an additional 1,232 shares in the last quarter. Peterson Wealth Management grew its holdings in shares of Chevron by 1.5% during the first quarter. Peterson Wealth Management now owns 8,014 shares of the oil and gas company's stock worth $1,341,000 after purchasing an additional 117 shares during the last quarter. Finally, Optima Capital LLC grew its holdings in shares of Chevron by 7.3% during the first quarter. Optima Capital LLC now owns 1,586 shares of the oil and gas company's stock worth $265,000 after purchasing an additional 108 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company's stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were 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 directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Chevron Stock Performance

Shares of CVX stock opened at $158.26 on Friday. The business's 50 day simple moving average is $154.49 and its 200 day simple moving average is $148.88. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The stock has a market capitalization of $273.47 billion, a PE ratio of 20.37, a PEG ratio of 1.99 and a beta of 0.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX - Get Free Report) last announced its earnings results 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. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analysts' expectations of $44.59 billion. During the same period in the prior year, the business posted $2.55 earnings per share. The firm's revenue was down 12.4% on a year-over-year basis. As a group, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

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

Wall Street Analyst Weigh In

CVX has been the topic of several research reports. Jefferies Financial Group restated a "buy" rating on shares of Chevron in a report on Friday, July 18th. Evercore ISI restated an "outperform" rating and set a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Bank of America boosted their price target on Chevron from $170.00 to $185.00 and gave the stock a "buy" rating in a report on Wednesday. UBS Group boosted their price target on Chevron from $186.00 to $197.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Melius initiated coverage on Chevron in a report on Wednesday, August 20th. They set a "hold" rating and a $155.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have given 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 target price of $164.80.

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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