Camden Capital LLC Has $1.84 Million Stake in Chevron Co. (NYSE:CVX)

Camden Capital LLC trimmed its holdings in Chevron Co. (NYSE:CVXGet Rating) by 35.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,287 shares of the oil and gas company’s stock after selling 6,252 shares during the period. Camden Capital LLC’s holdings in Chevron were worth $1,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Secure Asset Management LLC boosted its position in shares of Chevron by 15.7% during the first quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after buying an additional 593 shares during the period. Guinness Atkinson Asset Management Inc boosted its position in shares of Chevron by 26.4% during the first quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after buying an additional 1,326 shares during the period. ACT Wealth Management LLC boosted its position in shares of Chevron by 3.0% during the first quarter. ACT Wealth Management LLC now owns 4,781 shares of the oil and gas company’s stock worth $778,000 after buying an additional 140 shares during the period. Verdence Capital Advisors LLC boosted its position in shares of Chevron by 4.9% during the first quarter. Verdence Capital Advisors LLC now owns 78,544 shares of the oil and gas company’s stock worth $12,789,000 after buying an additional 3,681 shares during the period. Finally, Smithbridge Asset Management Inc. DE boosted its position in shares of Chevron by 2.4% during the first quarter. Smithbridge Asset Management Inc. DE now owns 12,278 shares of the oil and gas company’s stock worth $1,999,000 after buying an additional 290 shares during the period. 65.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cowen reduced their price objective on Chevron from $179.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 1st. Morgan Stanley upped their price objective on Chevron from $185.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. Wells Fargo & Company increased their price target on Chevron from $181.00 to $185.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Credit Suisse Group increased their price target on Chevron from $190.00 to $202.00 and gave the company an “outperform” rating in a research report on Thursday, June 9th. Finally, Bank of America increased their price target on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

Insider Transactions at Chevron

In related news, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total transaction of $18,721,778.00. Following the sale, the executive vice president now owns 788 shares of the company’s stock, valued at $125,662.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP R. Hewitt Pate sold 91,300 shares of the stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $172.34, for a total transaction of $15,734,642.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mark A. Nelson sold 117,400 shares of the stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $159.47, for a total value of $18,721,778.00. Following the sale, the executive vice president now directly owns 788 shares in the company, valued at approximately $125,662.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 399,043 shares of company stock worth $67,010,843. Company insiders own 0.32% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $153.64 on Friday. The firm has a market cap of $301.87 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.61 and a beta of 1.15. The company has a current ratio of 1.43, a quick ratio of 1.22 and a debt-to-equity ratio of 0.20. Chevron Co. has a 1-year low of $92.86 and a 1-year high of $182.40. The business’s 50 day moving average is $154.37 and its 200-day moving average is $155.35.

Chevron (NYSE:CVXGet Rating) last announced its earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.19% and a net margin of 13.45%. The firm’s quarterly revenue was up 82.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.71 earnings per share. Equities research analysts predict that Chevron Co. will post 17.51 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Friday, August 19th will be paid a dividend of $1.42 per share. The ex-dividend date is Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.70%. Chevron’s dividend payout ratio (DPR) is currently 37.89%.

Chevron Profile

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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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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