American Institute for Advanced Investment Management LLP Reduces Stake in Chevron Corporation $CVX

American Institute for Advanced Investment Management LLP reduced its position in Chevron Corporation (NYSE:CVX) by 29.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,186 shares of the oil and gas company’s stock after selling 1,740 shares during the period. American Institute for Advanced Investment Management LLP’s holdings in Chevron were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC raised its holdings in Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after purchasing an additional 83,702,101 shares during the period. GQG Partners LLC bought a new position in Chevron in the 1st quarter worth $1,466,751,000. Nuveen LLC bought a new position in Chevron in the 1st quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares during the period. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CVX has been the topic of a number of recent research reports. UBS Group raised their target price on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Morgan Stanley initiated coverage on Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Chevron in a report on Thursday, July 31st. Melius began coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $165.25.

Chevron Price Performance

NYSE:CVX opened at $157.58 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The business’s 50-day simple moving average is $156.07 and its two-hundred day simple moving average is $149.11. The stock has a market cap of $272.30 billion, a PE ratio of 20.28, a P/E/G ratio of 4.40 and a beta of 0.84. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $49.73 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.48 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio (DPR) is presently 88.03%.

Insider Transactions at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% 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, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

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.