Donald L. Hagan LLC Lowers Holdings in Chevron Corporation $CVX

Donald L. Hagan LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 6,354 shares of the oil and gas company’s stock after selling 131 shares during the period. Donald L. Hagan LLC’s holdings in Chevron were worth $910,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Greenfield Savings Bank boosted its holdings in Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock valued at $1,663,000 after purchasing an additional 68 shares during the last quarter. GDS Wealth Management boosted its holdings in Chevron by 4.4% in the first quarter. GDS Wealth Management now owns 1,706 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 72 shares during the last quarter. AIMZ Investment Advisors LLC boosted its holdings in Chevron by 4.2% in the first quarter. AIMZ Investment Advisors LLC now owns 1,783 shares of the oil and gas company’s stock valued at $298,000 after purchasing an additional 72 shares during the last quarter. Garde Capital Inc. boosted its holdings in Chevron by 3.2% in the second quarter. Garde Capital Inc. now owns 2,355 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 72 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Chevron by 0.3% in the second quarter. North Star Investment Management Corp. now owns 23,000 shares of the oil and gas company’s stock valued at $3,293,000 after purchasing an additional 74 shares during the last quarter. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Chevron

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The shares were 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 owned 1,181 shares in the company, valued at approximately $188,960. This represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction 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. The trade was a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Stock Down 0.5%

CVX opened at $155.38 on Wednesday. The company has a market cap of $268.50 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 1.95 and a beta of 0.90. 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 Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a 50-day moving average price of $156.27 and a 200 day moving average price of $149.14.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, beating 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 net margin of 7.02% and a return on equity of 9.90%. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.55 EPS. Sell-side analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued 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 is presently 88.03%.

Analyst Ratings Changes

Several equities research analysts have commented on CVX shares. Piper Sandler upped their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a report on Monday, August 18th. TD Cowen upped their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Mizuho decreased their price objective on shares of Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a research report on Monday, September 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $178.00 price objective 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 issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $165.05.

Chevron 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.