Chevron Corporation $CVX Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lowered its stake in Chevron Corporation (NYSE:CVX) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,069 shares of the oil and gas company’s stock after selling 107 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Chevron were worth $5,308,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CVX. Sage Capital Advisors llc boosted its position in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock valued at $7,097,000 after buying an additional 919 shares during the last quarter. CCG Wealth Management LLC increased its position in shares of Chevron by 2.3% during the first quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 145 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of Chevron by 14.1% in the first quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after acquiring an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in Chevron by 9.1% in the first quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock valued at $993,000 after purchasing an additional 495 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Chevron by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock valued at $24,075,000 after purchasing an additional 675 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 1.4%

NYSE:CVX opened at $159.56 on Wednesday. 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 1-year low of $132.04 and a 1-year high of $168.96. The firm has a market capitalization of $275.72 billion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.97 and a beta of 0.90. The stock has a fifty day simple moving average of $155.00 and a 200 day simple moving average of $148.86.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping 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 firm had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same quarter last year, the business posted $2.55 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of Chevron 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 owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Scotiabank reissued a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. TD Cowen lifted their target price on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research note on Friday, August 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Chevron has an average rating of “Hold” and a consensus 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.