TD Asset Management Inc Sells 1,777,368 Shares of Chevron Co. (NYSE:CVX)

TD Asset Management Inc lessened its holdings in shares of Chevron Co. (NYSE:CVX) by 61.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,124,710 shares of the oil and gas company’s stock after selling 1,777,368 shares during the period. TD Asset Management Inc owned 0.06% of Chevron worth $177,412,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. American Capital Advisory LLC lifted its stake in shares of Chevron by 403.2% during the first quarter. American Capital Advisory LLC now owns 156 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Bare Financial Services Inc acquired a new position in shares of Chevron during the fourth quarter valued at $27,000. Frank Rimerman Advisors LLC acquired a new position in shares of Chevron during the fourth quarter valued at $30,000. Cooksen Wealth LLC acquired a new position in shares of Chevron during the fourth quarter valued at $40,000. Finally, Clear Investment Research LLC lifted its stake in Chevron by 264.9% in the fourth quarter. Clear Investment Research LLC now owns 281 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 204 shares during the period. Institutional investors own 72.42% of the company’s stock.

Chevron Price Performance

CVX stock traded up $2.31 during midday trading on Thursday, reaching $163.54. 3,093,996 shares of the stock were exchanged, compared to its average volume of 7,868,885. The stock has a market capitalization of $301.40 billion, a PE ratio of 14.97, a P/E/G ratio of 2.48 and a beta of 1.10. Chevron Co. has a 52 week low of $139.62 and a 52 week high of $171.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.23 and a quick ratio of 0.93. The company has a fifty day moving average price of $157.55 and a 200 day moving average price of $155.26.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.09. The company had revenue of $48.72 billion for the quarter, compared to the consensus estimate of $48.42 billion. Chevron had a return on equity of 14.40% and a net margin of 10.21%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.55 EPS. As a group, analysts expect that Chevron Co. will post 12.71 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 17th were paid a $1.63 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $6.52 dividend on an annualized basis and a yield of 3.99%. Chevron’s dividend payout ratio (DPR) is presently 59.98%.

Insider Buying and Selling at Chevron

In related news, Director Enrique Hernandez, Jr. sold 2,549 shares of Chevron stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total transaction of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chevron news, Director Enrique Hernandez, Jr. sold 2,549 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $161.00, for a total value of $410,389.00. Following the transaction, the director now owns 7,647 shares of the company’s stock, valued at $1,231,167. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 2,800 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $165.00, for a total value of $462,000.00. Following the completion of the transaction, the vice president now directly owns 276 shares in the company, valued at approximately $45,540. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,746 shares of company stock valued at $2,727,971. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CVX. Mizuho increased their target price on Chevron from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Piper Sandler increased their price objective on Chevron from $180.00 to $204.00 and gave the stock an “overweight” rating in a report on Thursday, April 18th. Wolfe Research initiated coverage on Chevron in a report on Thursday. They set a “peer perform” rating for the company. Raymond James raised their price target on Chevron from $170.00 to $174.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Chevron in a research note on Monday, April 1st. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Chevron has a consensus rating of “Moderate Buy” and an average target price of $186.22.

Chevron 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.