Chevron Corporation $CVX Holdings Trimmed by Everett Harris & Co. CA

Everett Harris & Co. CA reduced its position in shares of Chevron Corporation (NYSE:CVX) by 1.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 563,019 shares of the oil and gas company’s stock after selling 9,216 shares during the period. Chevron accounts for 1.0% of Everett Harris & Co. CA’s investment portfolio, making the stock its 20th biggest position. Everett Harris & Co. CA’s holdings in Chevron were worth $80,619,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Harvest Fund Management Co. Ltd boosted its position 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 period. Elequin Capital LP purchased a new stake in shares of Chevron in the first quarter worth approximately $31,000. Quaker Wealth Management LLC boosted 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. Investment Management Corp VA ADV grew 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 valued at $39,000 after purchasing an additional 149 shares in the last quarter. Finally, IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CVX shares. TD Cowen lifted their target price on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Melius started coverage on Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective for the company. Wall Street Zen upgraded Chevron from a “sell” rating to a “hold” rating in a research note on Saturday. Melius Research started coverage on Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target for the company. Finally, Piper Sandler lowered their price target on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research note on Monday. One 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 assigned a Sell rating to the company. According to data from MarketBeat, Chevron currently has an average rating of “Hold” and a consensus price target of $165.45.

Chevron Stock Performance

CVX opened at $156.05 on Wednesday. The company has a market cap of $269.65 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 4.40 and a beta of 0.83. The stock has a 50-day moving average of $155.33 and a 200-day moving average of $150.04. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. 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 posted its earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.14. The firm had revenue of $48.17 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 company’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.48 EPS. As a group, equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Insiders Place Their Bets

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on 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 owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.