Cliftonlarsonallen Wealth Advisors LLC Lowers Position in Chevron Corporation $CVX

Cliftonlarsonallen Wealth Advisors LLC decreased its holdings in shares of Chevron Corporation (NYSE:CVX) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 11,630 shares of the oil and gas company’s stock after selling 363 shares during the period. Cliftonlarsonallen Wealth Advisors LLC’s holdings in Chevron were worth $1,665,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Kingstone Capital Partners Texas LLC increased its holdings in 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 valued at $13,214,757,000 after buying an additional 83,702,101 shares during the period. GQG Partners LLC bought a new stake in Chevron during the 1st quarter valued at $1,466,751,000. Nuveen LLC purchased a new position in shares of Chevron in the 1st quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Chevron by 4.9% in the 1st 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 acquiring an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Chevron by 141.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares in the last quarter. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Down 0.7%

NYSE CVX opened at $153.53 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a fifty day simple moving average of $156.26 and a two-hundred day simple moving average of $149.14. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84.

Chevron (NYSE:CVX) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. On average, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were given a $1.71 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a yield of 4.5%. Chevron’s dividend payout ratio is currently 88.03%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CVX. Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research report on Friday, August 1st. UBS Group raised their price target on shares of Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Mizuho lowered their target price on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Finally, TD Cowen upped their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Eleven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Chevron presently has a consensus rating of “Hold” and a consensus price target of $165.05.

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were 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 directly owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 sale, the director directly owned 1,403,045 shares in the company, 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 currently owned by corporate insiders.

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.