Ascent Group LLC Sells 1,271 Shares of Chevron Corporation $CVX

Ascent Group LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.1% in the second quarter, HoldingsChannel reports. The firm owned 39,769 shares of the oil and gas company’s stock after selling 1,271 shares during the quarter. Ascent Group LLC’s holdings in Chevron were worth $5,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kingstone Capital Partners Texas LLC raised its position 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 acquiring an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 acquiring an additional 1,574,464 shares in the last quarter. Invesco Ltd. raised its position in shares of Chevron by 5.5% in the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after acquiring an additional 827,851 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Chevron by 0.3% in 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 acquiring an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC bought a new position in shares of Chevron in the 1st quarter worth approximately $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CVX shares. Piper Sandler increased their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Barclays restated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Finally, Morgan Stanley assumed coverage on Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and a consensus target price of $165.05.

Chevron Stock Performance

Chevron stock opened at $153.59 on Friday. The stock’s 50 day moving average is $156.23 and its 200 day moving average is $149.09. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $265.40 billion, a P/E ratio of 19.77, a PEG ratio of 1.98 and a beta of 0.84.

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

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Buying and Selling at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total transaction of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron 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.