Chevron Corporation $CVX Holdings Cut by Stack Financial Management Inc

Stack Financial Management Inc lessened its holdings in shares of Chevron Corporation (NYSE:CVXFree Report) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,987 shares of the oil and gas company’s stock after selling 3,350 shares during the period. Chevron comprises approximately 3.5% of Stack Financial Management Inc’s holdings, making the stock its 6th largest holding. Stack Financial Management Inc’s holdings in Chevron were worth $39,375,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CVX. Harvest Fund Management Co. Ltd grew its holdings in shares of Chevron by 420.7% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 122 shares during the period. Elequin Capital LP purchased a new position in shares of Chevron during the 1st quarter worth approximately $31,000. Cloud Capital Management LLC purchased a new position in shares of Chevron during the 1st quarter worth approximately $39,000. Investment Management Corp VA ADV grew its holdings in shares of Chevron by 171.3% during the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 149 shares during the period. Finally, GFG Capital LLC purchased a new position in shares of Chevron during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CVX. Melius Research began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Barclays reduced their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. UBS Group upped their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Chevron has an average rating of “Hold” and a consensus price target of $165.40.

Check Out Our Latest Research Report on Chevron

Chevron Stock Performance

CVX stock opened at $149.11 on Monday. The stock has a market capitalization of $257.66 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock’s 50 day simple moving average is $156.10 and its 200 day simple moving average is $148.41.

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

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.6%. Chevron’s dividend payout ratio is 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction, 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 0.20% of the company’s stock.

Chevron Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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