Chevron Corporation $CVX Shares Sold by Birchbrook Inc.

Birchbrook Inc. lowered its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.9% in the first quarter, Holdings Channel reports. The firm owned 3,058 shares of the oil and gas company’s stock after selling 124 shares during the quarter. Birchbrook Inc.’s holdings in Chevron were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. GDS Wealth Management boosted its stake in Chevron by 4.4% during the 1st quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 72 shares during the period. AIMZ Investment Advisors LLC boosted its stake in Chevron by 4.2% during the 1st quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after purchasing an additional 72 shares during the period. Clayton Financial Group LLC boosted its stake in Chevron by 4.6% during the 1st quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after purchasing an additional 75 shares during the period. Gill Capital Partners LLC boosted its stake in Chevron by 4.9% during the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock worth $271,000 after purchasing an additional 75 shares during the period. Finally, GK Wealth Management LLC boosted its stake in Chevron by 2.5% during the 1st quarter. GK Wealth Management LLC now owns 3,074 shares of the oil and gas company’s stock worth $514,000 after purchasing an additional 75 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $158.26 on Friday. The company has a 50-day simple moving average of $154.49 and a 200-day simple moving average of $148.88. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $273.47 billion, a PE ratio of 20.37, a P/E/G ratio of 1.99 and a beta of 0.90. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96.

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

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insider Transactions at Chevron

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 transaction, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This represents 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.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Scotiabank restated a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $178.00 price objective on shares of Chevron in a research report on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.80.

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.