Canopy Partners LLC Sells 222 Shares of Chevron Corporation $CVX

Canopy Partners LLC reduced its position in Chevron Corporation (NYSE:CVX) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,728 shares of the oil and gas company’s stock after selling 222 shares during the period. Canopy Partners LLC’s holdings in Chevron were worth $963,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC lifted its stake in Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after acquiring an additional 1,574,464 shares in the last quarter. Invesco Ltd. lifted its stake in Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after acquiring an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new position in Chevron during the 1st quarter valued at $1,466,751,000. 72.42% of the stock is currently owned by institutional investors.

Chevron Trading Up 0.6%

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

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

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is presently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of several recent analyst reports. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Bank of America lifted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Morgan Stanley began coverage on Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Mizuho lowered their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research note on Friday, July 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $165.15.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction dated Friday, August 22nd. The shares were 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 $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.