Neville Rodie & Shaw Inc. Trims Holdings in Chevron Corporation $CVX

Neville Rodie & Shaw Inc. trimmed its position in Chevron Corporation (NYSE:CVX) by 2.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 59,920 shares of the oil and gas company’s stock after selling 1,225 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Chevron were worth $8,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd boosted its stake in Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP bought a new position in Chevron in the 1st quarter worth approximately $31,000. 10Elms LLP bought a new position in Chevron in the 4th quarter worth approximately $29,000. IFS Advisors LLC boosted its stake in Chevron by 119.6% in the 1st quarter. IFS Advisors LLC now owns 213 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 116 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Chevron in the 1st quarter worth approximately $39,000. 72.42% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Down 0.6%

Shares of CVX opened at $157.23 on Friday. The company has a market cap of $271.69 billion, a PE ratio of 20.24, a P/E/G ratio of 2.00 and a beta of 0.90. The business has a fifty day moving average of $154.67 and a 200 day moving average of $148.89. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during 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%.Chevron’s revenue was down 12.4% on a year-over-year basis. During the same period last year, the company earned $2.55 earnings per share. On average, sell-side analysts expect that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently declared 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 4.4%. Chevron’s dividend payout ratio (DPR) is currently 88.03%.

Insiders Place Their Bets

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president directly owned 1,181 shares in the company, valued at $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $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 owned by company insiders.

Analyst Ratings Changes

CVX has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Evercore ISI reiterated an “outperform” rating and set a $180.00 target price on shares of Chevron in a research report on Thursday, July 31st. UBS Group increased their target price on Chevron from $186.00 to $197.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $178.00 target price on shares of Chevron in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Chevron presently has an average rating of “Hold” and a consensus price target of $164.80.

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.