Chevron Corporation $CVX Stock Position Decreased by Resources Management Corp CT ADV

Resources Management Corp CT ADV trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 0.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 54,503 shares of the oil and gas company’s stock after selling 191 shares during the period. Chevron accounts for approximately 1.3% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 20th biggest holding. Resources Management Corp CT ADV’s holdings in Chevron were worth $9,118,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in CVX. GQG Partners LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $1,466,751,000. Nuveen LLC acquired a new stake in shares of Chevron during the 1st quarter valued at about $1,362,232,000. GAMMA Investing LLC lifted its holdings in shares of Chevron by 21,191.5% during 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 buying an additional 5,382,847 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Chevron by 4.9% during 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 buying an additional 1,574,464 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock valued at $316,483,000 after buying an additional 1,107,628 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVX shares. Hsbc Global Res lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 13th. Barclays reissued an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Melius started coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $178.00 price objective on shares of Chevron in a research note on Friday, August 1st. Finally, Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $163.95.

Chevron Stock Down 2.4%

Shares of CVX stock opened at $153.83 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The stock’s 50 day simple moving average is $153.69 and its 200 day simple moving average is $148.87. The company has a market capitalization of $265.81 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 2.28 and a beta of 0.90. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. During the same period in the previous year, the company earned $2.55 earnings per share. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, research analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.4%. Chevron’s payout ratio is 88.03%.

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.