Chevron Corporation $CVX Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. cut its holdings in shares of Chevron Corporation (NYSE:CVX) by 2.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,182 shares of the oil and gas company’s stock after selling 125 shares during the quarter. Carderock Capital Management Inc.’s holdings in Chevron were worth $700,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GDS Wealth Management grew its position in shares of Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 72 shares in the last quarter. AIMZ Investment Advisors LLC lifted its position in Chevron by 4.2% during the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock worth $298,000 after buying an additional 72 shares in the last quarter. Clayton Financial Group LLC boosted its stake in Chevron by 4.6% during the first quarter. Clayton Financial Group LLC now owns 1,702 shares of the oil and gas company’s stock worth $285,000 after buying an additional 75 shares during the last quarter. Gill Capital Partners LLC grew its holdings in Chevron by 4.9% in the 1st quarter. Gill Capital Partners LLC now owns 1,619 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 75 shares in the last quarter. Finally, Cordatus Wealth Management LLC increased its stake in shares of Chevron by 0.4% in the 1st quarter. Cordatus Wealth Management LLC now owns 19,723 shares of the oil and gas company’s stock worth $3,299,000 after acquiring an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Up 1.9%

Shares of NYSE CVX opened at $157.76 on Thursday. The business has a 50-day moving average price of $154.29 and a 200 day moving average price of $148.88. The stock has a market cap of $272.60 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. 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 52-week low of $132.04 and a 52-week high of $168.96.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The business had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the prior year, the company earned $2.55 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. Equities research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current 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 given a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s payout ratio is presently 88.03%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The stock was 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 of the company’s stock, valued at $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CVX shares. Melius Research began coverage on shares of Chevron in a research report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price target on the stock. Morgan Stanley started coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price on the stock. Scotiabank reiterated a “sector perform” rating and issued a $160.00 target price (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Wells Fargo & Company restated an “overweight” rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. Finally, Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Eleven research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron currently has a consensus rating of “Hold” and an average target price of $164.80.

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.