Appleton Partners Inc. MA Sells 915 Shares of Chevron Corporation $CVX

Appleton Partners Inc. MA trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 24.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,769 shares of the oil and gas company’s stock after selling 915 shares during the quarter. Appleton Partners Inc. MA’s holdings in Chevron were worth $396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CVX. Kingstone Capital Partners Texas LLC boosted its holdings in shares of 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 buying an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Chevron by 4.9% in the first 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 acquiring an additional 1,574,464 shares during the period. Invesco Ltd. boosted its stake in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after acquiring an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after purchasing an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC purchased a new stake in shares of Chevron during the 1st quarter worth approximately $1,466,751,000. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 375,000 shares of Chevron 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 in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the 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 completion of the transaction, the vice president directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Chevron Stock Performance

NYSE CVX opened at $153.99 on Tuesday. The company’s 50 day simple moving average is $156.19 and its two-hundred day simple moving average is $148.80. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The stock has a market capitalization of $266.09 billion, a PE ratio of 19.82, a P/E/G ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.55 earnings per share. Analysts predict that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio is 88.03%.

Analyst Ratings Changes

Several brokerages have weighed in on CVX. Piper Sandler increased their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. Morgan Stanley began coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price objective on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and set a $178.00 price objective on shares of Chevron in a report on Friday, August 1st. Bank of America lifted their target price on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Finally, Mizuho dropped their price target on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and an average price target of $165.05.

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.