Chevron Corporation $CVX Holdings Decreased by NorthRock Partners LLC

NorthRock Partners LLC reduced its stake in shares of Chevron Corporation (NYSE:CVX) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,841 shares of the oil and gas company’s stock after selling 2,245 shares during the quarter. NorthRock Partners LLC’s holdings in Chevron were worth $5,562,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Chevron by 27.3% in the 1st quarter. GAMMA Investing LLC now owns 32,329 shares of the oil and gas company’s stock worth $5,408,000 after purchasing an additional 6,928 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Chevron by 10.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,133,752 shares of the oil and gas company’s stock valued at $189,666,000 after buying an additional 104,103 shares during the last quarter. Missouri Trust & Investment Co lifted its holdings in shares of Chevron by 0.8% during the 1st quarter. Missouri Trust & Investment Co now owns 20,009 shares of the oil and gas company’s stock valued at $3,347,000 after buying an additional 150 shares during the last quarter. Wilsey Asset Management Inc. boosted its position in Chevron by 0.4% during the first quarter. Wilsey Asset Management Inc. now owns 200,641 shares of the oil and gas company’s stock worth $33,565,000 after purchasing an additional 771 shares during the period. Finally, Grant Private Wealth Management Inc boosted its position in Chevron by 13.2% during the first quarter. Grant Private Wealth Management Inc now owns 2,261 shares of the oil and gas company’s stock worth $378,000 after purchasing an additional 264 shares during the period. 72.42% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CVX. Scotiabank upped their price target on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday. Barclays cut their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. TD Cowen increased their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $165.40.

Chevron Trading Down 1.7%

NYSE CVX opened at $149.11 on Monday. The stock’s 50-day moving average is $156.10 and its 200-day moving average is $148.41. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $257.66 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the firm earned $2.55 EPS. Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, August 19th. Chevron’s payout ratio is currently 88.03%.

Insider Activity at Chevron

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction 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 completion of the sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction 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 of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

About Chevron

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.