Shell Asset Management Co. Reduces Stock Holdings in Chevron Corporation $CVX

Shell Asset Management Co. reduced its holdings in shares of Chevron Corporation (NYSE:CVX) by 88.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,982 shares of the oil and gas company’s stock after selling 45,133 shares during the period. Shell Asset Management Co.’s holdings in Chevron were worth $929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CVX. Quaker Wealth Management LLC raised its position in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Chevron during the 3rd quarter valued at approximately $34,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Chevron by 86.1% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after buying an additional 118 shares during the last quarter. IMG Wealth Management Inc. lifted its stake 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 buying an additional 91 shares during the period. Finally, Marquette Asset Management LLC purchased a new stake in shares of Chevron during the third quarter valued at $41,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer directly owned 4,366 shares in the company, valued at approximately $764,093.66. This represents a 88.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider R. Hewitt Pate sold 41,134 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $176.40, for a total transaction of $7,256,037.60. Following the transaction, the insider directly owned 4,169 shares in the company, valued at approximately $735,411.60. The trade was a 90.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 793,163 shares of company stock valued at $127,920,502. 0.20% of the stock is owned by insiders.

Chevron Stock Up 0.7%

CVX opened at $183.65 on Tuesday. The company has a fifty day moving average of $163.21 and a two-hundred day moving average of $157.68. The stock has a market capitalization of $369.79 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 12.16 and a beta of 0.70. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $186.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last posted its earnings results on Friday, January 30th. The oil and gas company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.08. Chevron had a net margin of 6.51% and a return on equity of 8.23%. The business had revenue of $45.79 billion for the quarter, compared to analyst estimates of $48.18 billion. During the same period in the prior year, the company posted $2.06 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. On average, research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be issued a $1.78 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from Chevron’s previous quarterly dividend of $1.71. This represents a $7.12 annualized dividend and a yield of 3.9%. Chevron’s dividend payout ratio is 102.70%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Zacks Research upgraded Chevron from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 23rd. Barclays raised their price objective on Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 21st. Sanford C. Bernstein upped their target price on Chevron from $170.00 to $172.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Mizuho raised their price target on shares of Chevron from $204.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Finally, Freedom Capital downgraded shares of Chevron from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has a consensus rating of “Hold” and a consensus price target of $175.00.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.