Chevron Corporation $CVX Shares Sold by CBIZ Investment Advisory Services LLC

CBIZ Investment Advisory Services LLC reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 22.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 914 shares of the oil and gas company’s stock after selling 270 shares during the quarter. CBIZ Investment Advisory Services LLC’s holdings in Chevron were worth $153,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CVX. Bank Pictet & Cie Europe AG grew its stake in Chevron by 7.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 35,985 shares of the oil and gas company’s stock worth $5,212,000 after buying an additional 2,641 shares during the period. Quadcap Wealth Management LLC boosted its holdings in Chevron by 1.6% in the 4th quarter. Quadcap Wealth Management LLC now owns 19,221 shares of the oil and gas company’s stock worth $2,784,000 after acquiring an additional 294 shares during the period. ProShare Advisors LLC boosted its holdings in Chevron by 11.0% in the 4th quarter. ProShare Advisors LLC now owns 1,699,478 shares of the oil and gas company’s stock worth $246,152,000 after acquiring an additional 168,788 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Chevron in the 4th quarter worth approximately $24,043,000. Finally, Rockbridge Capital Management LLC purchased a new position in Chevron in the 4th quarter worth approximately $390,000. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Trading Up 0.3%

NYSE CVX opened at $158.26 on Friday. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $273.47 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.99 and a beta of 0.90. The company’s fifty day moving average price is $154.49 and its two-hundred day moving average price is $148.88.

Chevron (NYSE:CVX) last posted 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. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm posted $2.55 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, August 19th. 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 transaction of $59,362,500.00. Following the sale, 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 is accessible 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 sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CVX. Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research note on Thursday, July 31st. Piper Sandler upped their target price on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Jefferies Financial Group restated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Bank of America upped their target price on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Melius Research began coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $164.80.

Chevron Company 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.