Chevron Corporation (NYSE:CVX) Shares Sold by PrairieView Partners LLC

PrairieView Partners LLC reduced its position in Chevron Corporation (NYSE:CVX) by 5.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,344 shares of the oil and gas company’s stock after selling 78 shares during the quarter. PrairieView Partners LLC’s holdings in Chevron were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Chevron by 21,191.5% in the 1st quarter. GAMMA Investing LLC now owns 5,408,248 shares of the oil and gas company’s stock valued at $904,746,000 after acquiring an additional 5,382,847 shares during the period. Capital World Investors boosted its position in Chevron by 11.4% during the 4th quarter. Capital World Investors now owns 14,079,656 shares of the oil and gas company’s stock worth $2,039,288,000 after purchasing an additional 1,440,808 shares during the period. Northern Trust Corp increased its holdings in Chevron by 7.3% in the 4th quarter. Northern Trust Corp now owns 20,471,800 shares of the oil and gas company’s stock valued at $2,965,135,000 after purchasing an additional 1,394,091 shares in the last quarter. Janus Henderson Group PLC raised its position in Chevron by 27.3% in the fourth quarter. Janus Henderson Group PLC now owns 3,897,183 shares of the oil and gas company’s stock valued at $564,503,000 after purchasing an additional 835,990 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Chevron by 138.2% during the first quarter. Jennison Associates LLC now owns 1,189,354 shares of the oil and gas company’s stock worth $198,967,000 after purchasing an additional 690,038 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 1.2%

Shares of NYSE:CVX opened at $152.80 on Wednesday. The company has a 50 day moving average of $147.44 and a 200-day moving average of $148.68. The company has a current ratio of 1.08, a quick ratio of 0.82 and a debt-to-equity ratio of 0.17. The firm has a market cap of $266.85 billion, a P/E ratio of 19.67, a P/E/G ratio of 2.30 and a beta of 0.87. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The firm had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same period in the prior year, the firm posted $2.55 earnings per share. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, analysts anticipate that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be given a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 annualized dividend and a yield of 4.5%. Chevron’s payout ratio is 88.03%.

Analyst Ratings Changes

CVX has been the subject of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday. Piper Sandler reissued an “overweight” rating on shares of Chevron in a research report on Tuesday, July 15th. UBS Group increased their price objective on shares of Chevron from $177.00 to $186.00 and gave the company a “buy” rating in a research report on Monday. Scotiabank reiterated a “sector perform” rating and set a $160.00 price objective (up previously from $143.00) on shares of Chevron in a research note on Friday, July 11th. Finally, Evercore ISI reissued an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $164.11.

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.