YHB Investment Advisors Inc. Trims Stock Position in Chevron Corporation $CVX

Key Points

• YHB Investment Advisors Inc. decreased its holdings in Chevron Corporation by 8.8%, selling 2,891 shares in the second quarter, leaving them with 30,031 shares valued at approximately $4.3 million.
• Multiple institutional investors have altered their positions in Chevron, with Bank Pictet & Cie Europe AG increasing its stake by 7.9% and the State of Wyoming raising its stake by 662.3% during the last quarter.
• Chevron recently reported quarterly earnings, exceeding expectations with an EPS of $1.77 against estimates of $1.58, but faced a 12.4% year-over-year revenue decline.

YHB Investment Advisors Inc. cut its holdings in Chevron Corporation (NYSE:CVX - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,031 shares of the oil and gas company's stock after selling 2,891 shares during the period. YHB Investment Advisors Inc.'s holdings in Chevron were worth $4,300,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Sage Capital Advisors llc lifted its stake in Chevron by 2.2% in the first quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company's stock valued at $7,097,000 after purchasing an additional 919 shares during the last quarter. CCG Wealth Management LLC lifted its stake in Chevron by 2.3% in the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company's stock valued at $1,060,000 after purchasing an additional 145 shares during the last quarter. Ignite Planners LLC lifted its stake in Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company's stock valued at $2,060,000 after purchasing an additional 1,519 shares during the last quarter. Vista Capital Partners Inc. raised its holdings in Chevron by 9.1% during the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company's stock valued at $993,000 after acquiring an additional 495 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Chevron by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company's stock worth $24,075,000 after acquiring an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 72.42% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Jefferies Financial Group reissued a "buy" rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler raised their price objective 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. Barclays reaffirmed an "equal weight" rating on shares of Chevron in a report on Tuesday, July 15th. Finally, Melius assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a "hold" rating and a $155.00 price target for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron has an average rating of "Hold" and an average price target of $165.05.

Chevron Trading Down 1.7%

Shares of NYSE CVX traded down $2.73 during midday trading on Friday, reaching $156.11. The company had a trading volume of 16,709,599 shares, compared to its average volume of 7,286,043. The stock has a market cap of $269.76 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. Chevron Corporation has a one year low of $132.04 and a one year 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. The firm's fifty day moving average price is $155.24 and its 200-day moving average price is $149.00.

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 research analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In related 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 sale, the director directly owned 1,403,045 shares of the company's stock, valued at approximately $222,102,023.50. This represents a 21.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, 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 0.21% of the company's stock.

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.