Chevron Co. (NYSE:CVX) Shares Sold by Stonnington Group LLC

Stonnington Group LLC reduced its stake in Chevron Co. (NYSE:CVXGet Rating) by 13.8% during the 2nd quarter, Holdings Channel reports. The fund owned 7,123 shares of the oil and gas company’s stock after selling 1,138 shares during the quarter. Stonnington Group LLC’s holdings in Chevron were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Old Port Advisors raised its stake in shares of Chevron by 16.9% in the second quarter. Old Port Advisors now owns 17,963 shares of the oil and gas company’s stock valued at $2,563,000 after acquiring an additional 2,593 shares in the last quarter. Pure Financial Advisors LLC raised its stake in Chevron by 19.1% in the second quarter. Pure Financial Advisors LLC now owns 5,703 shares of the oil and gas company’s stock valued at $826,000 after buying an additional 915 shares in the last quarter. My Personal CFO LLC acquired a new stake in Chevron in the second quarter valued at $4,741,000. Wealth Alliance Advisory Group LLC raised its stake in Chevron by 4.3% in the second quarter. Wealth Alliance Advisory Group LLC now owns 18,425 shares of the oil and gas company’s stock valued at $2,668,000 after buying an additional 766 shares in the last quarter. Finally, City Holding Co. raised its stake in Chevron by 1.6% in the second quarter. City Holding Co. now owns 37,347 shares of the oil and gas company’s stock valued at $5,407,000 after buying an additional 588 shares in the last quarter. 69.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CVX. Cowen raised their price target on Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 15th. Morgan Stanley raised their price target on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 6th. Truist Financial cut their price target on Chevron from $170.00 to $166.00 and set a “hold” rating on the stock in a research note on Tuesday, July 19th. Bank of America raised their price objective on Chevron from $178.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $202.00 price objective on shares of Chevron in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Chevron Price Performance

Shares of CVX opened at $156.45 on Monday. Chevron Co. has a twelve month low of $93.31 and a twelve month high of $182.40. The stock’s 50 day moving average is $154.36 and its two-hundred day moving average is $160.41. The firm has a market capitalization of $307.39 billion, a PE ratio of 10.44, a P/E/G ratio of 0.60 and a beta of 1.15. The company has a current ratio of 1.31, a quick ratio of 1.11 and a debt-to-equity ratio of 0.15.

Chevron (NYSE:CVXGet Rating) last posted its quarterly earnings results on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The company had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same period last year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 82.9% on a year-over-year basis. Research analysts anticipate that Chevron Co. will post 18.4 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.42 per share. The ex-dividend date was Thursday, August 18th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.63%. Chevron’s payout ratio is 37.89%.

Insider Activity

In related news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now directly owns 3,560 shares in the company, valued at approximately $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Pierre R. Breber sold 22,500 shares of Chevron stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $161.39, for a total transaction of $3,631,275.00. Following the completion of the transaction, the chief financial officer now directly owns 7 shares in the company, valued at approximately $1,129.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares of the company’s stock, valued at $574,762. The disclosure for this sale can be found here. In the last three months, insiders sold 141,732 shares of company stock worth $23,024,499. Company insiders own 0.32% of the company’s stock.

Chevron Company Profile

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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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