Gradient Investments LLC lowered its position in Chevron Co. (NYSE:CVX – Get Rating) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,536 shares of the oil and gas company’s stock after selling 13,555 shares during the quarter. Chevron makes up about 0.7% of Gradient Investments LLC’s holdings, making the stock its 25th biggest holding. Gradient Investments LLC’s holdings in Chevron were worth $24,690,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. Thrive Wealth Management LLC lifted its stake in Chevron by 7.0% in the second quarter. Thrive Wealth Management LLC now owns 5,043 shares of the oil and gas company’s stock worth $730,000 after acquiring an additional 331 shares during the last quarter. FOCUS Wealth Advisors LLC purchased a new position in Chevron in the second quarter worth approximately $1,364,000. MJP Associates Inc. ADV lifted its stake in Chevron by 4.1% in the second quarter. MJP Associates Inc. ADV now owns 3,034 shares of the oil and gas company’s stock worth $439,000 after acquiring an additional 119 shares during the last quarter. Greylin Investment Mangement Inc. lifted its stake in Chevron by 0.3% in the second quarter. Greylin Investment Mangement Inc. now owns 37,412 shares of the oil and gas company’s stock worth $5,417,000 after acquiring an additional 100 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Chevron by 11.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 362,241 shares of the oil and gas company’s stock valued at $52,443,000 after acquiring an additional 38,334 shares during the period. Hedge funds and other institutional investors own 69.30% of the company’s stock.
Insider Buying and Selling
In related news, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Wanda M. Austin sold 11,432 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the sale, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James William Johnson sold 85,300 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $164.01, for a total transaction of $13,990,053.00. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 in the last three months. Corporate insiders own 0.32% of the company’s stock.
Wall Street Analysts Forecast Growth
CVX has been the topic of a number of recent research reports. HSBC raised shares of Chevron from a “hold” rating to a “buy” rating and cut their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 20th. Piper Sandler lifted their target price on shares of Chevron from $189.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, September 12th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $172.00 target price on shares of Chevron in a report on Thursday, August 4th. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a report on Thursday, August 4th. Finally, Truist Financial cut their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.20.
Chevron Price Performance
Shares of NYSE CVX opened at $156.45 on Monday. The firm has a market capitalization of $307.39 billion, a P/E ratio of 10.44, a PEG ratio of 0.60 and a beta of 1.15. Chevron Co. has a one year low of $93.31 and a one year high of $182.40. The company’s fifty day moving average is $154.36 and its two-hundred day moving average is $160.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31.
Chevron (NYSE:CVX – Get Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping the consensus estimate of $4.66 by $1.16. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The business’s revenue was up 82.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.71 EPS. Analysts forecast that Chevron Co. will post 18.4 EPS for the current fiscal year.
Chevron Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were given a $1.42 dividend. The ex-dividend date was Thursday, August 18th. This represents a $5.68 annualized dividend and a dividend yield of 3.63%. Chevron’s dividend payout ratio is presently 37.89%.
Chevron Company Profile
Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.
Featured Stories
Want to see what other hedge funds are holding CVX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chevron Co. (NYSE:CVX – Get Rating).
Receive News & Ratings for Chevron Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Chevron and related companies with MarketBeat.com’s FREE daily email newsletter.
