Vestmark Advisory Solutions Inc. Has $5.13 Million Position in Chevron Corporation $CVX

Vestmark Advisory Solutions Inc. trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 43.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,846 shares of the oil and gas company’s stock after selling 27,903 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Chevron were worth $5,133,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CVX. Harvest Fund Management Co. Ltd grew its holdings in Chevron by 420.7% during the 1st 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 bought a new position in shares of Chevron during the first quarter valued at $31,000. Quaker Wealth Management LLC lifted its holdings in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. IMG Wealth Management Inc. lifted its holdings in shares of Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares during the period. Finally, Investment Management Corp VA ADV grew its stake in shares of Chevron by 171.3% in the first quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 149 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

Chevron stock opened at $155.10 on Friday. The stock has a market capitalization of $268.01 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.40 and a beta of 0.83. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The stock’s 50 day moving average price is $155.55 and its two-hundred day moving average price is $149.62. 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 released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same quarter in the previous year, the business posted $2.48 EPS. Chevron’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was 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 directly owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on CVX. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Raymond James Financial reiterated an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Bank of America increased their target price on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Finally, Barclays dropped their price target on shares of Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $165.40.

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.