Corsicana & Co. Reduces Holdings in Chevron Co. (NYSE:CVX)

Corsicana & Co. cut its stake in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,454 shares of the oil and gas company’s stock after selling 171 shares during the quarter. Chevron accounts for 1.3% of Corsicana & Co.’s portfolio, making the stock its 23rd biggest position. Corsicana & Co.’s holdings in Chevron were worth $1,658,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Secure Asset Management LLC lifted its holdings in Chevron by 15.7% in the 1st quarter. Secure Asset Management LLC now owns 4,382 shares of the oil and gas company’s stock worth $713,000 after buying an additional 593 shares during the period. Rothschild Investment Corp IL lifted its holdings in Chevron by 0.6% in the 2nd quarter. Rothschild Investment Corp IL now owns 134,756 shares of the oil and gas company’s stock worth $19,510,000 after buying an additional 748 shares during the period. S.C. Financial Services Inc. lifted its holdings in Chevron by 12.3% in the 2nd quarter. S.C. Financial Services Inc. now owns 3,880 shares of the oil and gas company’s stock worth $562,000 after buying an additional 424 shares during the period. Guinness Atkinson Asset Management Inc lifted its holdings in Chevron by 26.4% in the 1st quarter. Guinness Atkinson Asset Management Inc now owns 6,346 shares of the oil and gas company’s stock worth $1,033,000 after buying an additional 1,326 shares during the period. Finally, Sound Income Strategies LLC lifted its holdings in Chevron by 15.9% in the 2nd quarter. Sound Income Strategies LLC now owns 2,879 shares of the oil and gas company’s stock worth $417,000 after buying an additional 395 shares during the period. 69.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price objective on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, September 12th. Morgan Stanley increased their price objective on Chevron from $187.00 to $193.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 6th. HSBC upgraded Chevron from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $183.00 to $167.00 in a report on Wednesday, July 20th. Cowen increased their target price on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, August 15th. Finally, Citigroup decreased their target price on Chevron from $170.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.20.

Insiders Place Their Bets

In other Chevron news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Chevron news, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total value of $13,990,053.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total value of $3,631,275.00. Following the completion of the sale, the chief financial officer now directly owns 7 shares of the company’s stock, valued at approximately $1,129.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 141,732 shares of company stock valued at $23,024,499. Corporate insiders own 0.32% of the company’s stock.

Chevron Stock Down 0.1 %

CVX stock opened at $154.89 on Friday. Chevron Co. has a twelve month low of $97.75 and a twelve month high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15. The firm has a market cap of $304.33 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The business has a 50 day moving average of $155.74 and a 200 day moving average of $160.31.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. The company had revenue of $68.76 billion during the quarter, compared to analyst estimates of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The firm’s revenue for the quarter was up 82.9% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. On average, research analysts forecast that Chevron Co. will post 18.37 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s payout ratio is 37.89%.

About Chevron

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Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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