Lindenwold Advisors INC Has $1.59 Million Stock Holdings in Chevron Corporation $CVX

Lindenwold Advisors INC cut its stake in Chevron Corporation (NYSE:CVX) by 26.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,071 shares of the oil and gas company’s stock after selling 3,985 shares during the quarter. Lindenwold Advisors INC’s holdings in Chevron were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd increased its stake in shares of Chevron by 420.7% in the first 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 last quarter. Elequin Capital LP acquired a new position in Chevron during the first quarter worth $31,000. Cloud Capital Management LLC acquired a new position in Chevron during the first quarter worth $39,000. Investment Management Corp VA ADV increased its position in Chevron by 171.3% during the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after buying an additional 149 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in Chevron during the first quarter worth $45,000. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Stock Performance

NYSE:CVX opened at $149.11 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50 day moving average of $156.10 and a 200-day moving average of $148.67. 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 has a market capitalization of $257.66 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Chevron (NYSE:CVX) last posted 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 net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter in the previous year, the company posted $2.55 earnings per share. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 dividend yield of 4.6%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Analysts Set New Price Targets

CVX has been the topic of several analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Melius initiated 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chevron in a research report on Wednesday. Finally, Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research report on Monday, August 18th. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $165.40.

Insider Buying and Selling

In related news, 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 owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of 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 disclosure for this sale can be found here. Company insiders own 0.21% 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.