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

Renaissance Investment Group LLC trimmed its position in shares of Chevron Co. (NYSE:CVX) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,574 shares of the oil and gas company’s stock after selling 596 shares during the period. Renaissance Investment Group LLC’s holdings in Chevron were worth $877,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P grew its stake in shares of Chevron by 85.1% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 159,115 shares of the oil and gas company’s stock worth $25,908,000 after purchasing an additional 73,141 shares in the last quarter. Axiom Financial Strategies LLC boosted its position in shares of Chevron by 25.2% during the 1st quarter. Axiom Financial Strategies LLC now owns 7,335 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 1,476 shares in the last quarter. GQG Partners LLC increased its holdings in shares of Chevron by 4.7% in the 1st quarter. GQG Partners LLC now owns 40,538 shares of the oil and gas company’s stock valued at $6,598,000 after acquiring an additional 1,813 shares during the last quarter. Lumature Wealth Partners LLC raised its position in shares of Chevron by 43.5% during the 1st quarter. Lumature Wealth Partners LLC now owns 5,837 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 1,770 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Chevron by 13.8% in the first quarter. First Trust Advisors LP now owns 2,068,600 shares of the oil and gas company’s stock valued at $336,830,000 after purchasing an additional 250,840 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Chevron Stock Down 0.4 %

CVX stock opened at $166.50 on Friday. The stock has a market capitalization of $310.90 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.18. The company has a fifty day moving average of $160.56 and a 200-day moving average of $160.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.13 and a current ratio of 1.43. Chevron Co. has a one year low of $140.46 and a one year high of $189.68.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.13. Chevron had a net margin of 13.54% and a return on equity of 19.48%. The firm had revenue of $48.90 billion during the quarter, compared to analysts’ expectations of $48 billion. During the same period in the prior year, the company posted $5.82 earnings per share. The firm’s revenue for the quarter was down 28.9% on a year-over-year basis. As a group, analysts expect that Chevron Co. will post 13.23 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 18th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $6.04 annualized dividend and a dividend yield of 3.63%. Chevron’s payout ratio is currently 38.30%.

Insider Transactions at Chevron

In related news, CFO Pierre R. Breber sold 25,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $164.00, for a total transaction of $4,100,000.00. Following the sale, the chief financial officer now owns 6,021 shares of the company’s stock, valued at $987,444. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Chevron news, VP Jeff B. Gustavson sold 3,750 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $160.88, for a total value of $603,300.00. Following the sale, the vice president now owns 1,718 shares of the company’s stock, valued at $276,391.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pierre R. Breber sold 25,000 shares of Chevron stock in a transaction on Friday, August 11th. The stock was sold at an average price of $164.00, for a total value of $4,100,000.00. Following the transaction, the chief financial officer now directly owns 6,021 shares of the company’s stock, valued at approximately $987,444. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup cut their price objective on shares of Chevron from $180.00 to $170.00 in a report on Tuesday, July 11th. Royal Bank of Canada upgraded shares of Chevron from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $165.00 to $180.00 in a research note on Thursday, June 1st. Morgan Stanley lifted their target price on Chevron from $197.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Friday, August 18th. UBS Group upped their target price on Chevron from $202.00 to $209.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, The Goldman Sachs Group raised Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $166.00 to $187.00 in a research report on Monday, July 31st. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $190.28.

About Chevron

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; liquefaction, transportation, and regasification associated with liquefied natural gas; transportation of crude oil through pipelines; and processing, transportation, storage, and marketing of natural gas, as well as a gas-to-liquids plant.