Chevron Corporation $CVX Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Chevron Corporation (NYSE:CVX) by 0.4% in the second quarter, Holdings Channel reports. The firm owned 155,828,565 shares of the oil and gas company’s stock after selling 557,209 shares during the period. Vanguard Group Inc. owned 0.09% of Chevron worth $22,313,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC grew its position in shares of Chevron by 652,139.5% during the second 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 during the last quarter. GQG Partners LLC purchased a new position in Chevron during the 1st quarter worth $1,466,751,000. Nuveen LLC purchased a new position in Chevron during the 1st quarter worth $1,362,232,000. Charles Schwab Investment Management Inc. increased its stake 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 valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after buying an additional 1,107,628 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Analysts Set New Price Targets

CVX has been the topic of several recent research reports. Evercore ISI restated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler dropped their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. TD Cowen increased their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Scotiabank boosted their price objective on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Finally, Bank of America raised 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. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average price target of $166.55.

Chevron Price Performance

Shares of NYSE CVX opened at $154.93 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market capitalization of $311.96 billion, a P/E ratio of 19.94, a PEG ratio of 4.40 and a beta of 0.83. The company’s fifty day moving average is $155.28 and its two-hundred day moving average is $150.53.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The firm had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter last year, the business earned $2.48 earnings per share. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. Analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s payout ratio is 96.20%.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the firm’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 value of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 value of $636,480.00. Following the transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate 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.