Chevron Corporation $CVX Holdings Trimmed by Abel Hall LLC

Abel Hall LLC lowered its position in shares of Chevron Corporation (NYSE:CVX) by 22.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,220 shares of the oil and gas company’s stock after selling 916 shares during the quarter. Abel Hall LLC’s holdings in Chevron were worth $461,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CCG Wealth Management LLC lifted its holdings in shares of Chevron by 2.3% during 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 holdings in shares of Chevron by 14.1% during 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. lifted its holdings in shares of Chevron by 9.1% during the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Chevron by 0.5% in the 1st 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. Finally, Capital Advisors Inc. OK lifted its stake in Chevron by 0.3% in the 1st quarter. Capital Advisors Inc. OK now owns 569,258 shares of the oil and gas company’s stock worth $95,231,000 after acquiring an additional 1,755 shares in the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

Shares of NYSE CVX opened at $154.92 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market cap of $267.70 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.99 and a beta of 0.84. The business’s 50-day simple moving average is $156.15 and its 200-day simple moving average is $148.84. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.55 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analyst Ratings Changes

Several brokerages recently issued reports on CVX. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Piper Sandler increased their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Raymond James Financial reissued an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Melius Research began coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Finally, Barclays reduced their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $165.15.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of the firm’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 sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the firm’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 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 position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.