Chevron Corporation $CVX Holdings Trimmed by US Bancorp DE

US Bancorp DE lowered its position in shares of Chevron Corporation (NYSE:CVX) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,183,593 shares of the oil and gas company’s stock after selling 38,687 shares during the quarter. US Bancorp DE owned 0.13% of Chevron worth $312,670,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its position in shares of 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 valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV boosted its position in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Chevron in the 1st quarter valued at $45,000. Institutional investors own 72.42% of the company’s stock.

Insider Activity at Chevron

In other Chevron news, Director John B. Hess sold 375,000 shares of the 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 transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were 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 in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Chevron Stock Performance

Shares of CVX opened at $153.76 on Thursday. The company’s fifty day moving average is $156.15 and its 200-day moving average is $148.88. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The firm has a market cap of $265.70 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 1.99 and a beta of 0.84. 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 announced its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.58 by $0.19. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. During the same quarter in the prior year, the business posted $2.55 EPS. Chevron’s quarterly revenue was down 12.4% on a year-over-year basis. Equities analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were issued a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analysts Set New Price Targets

CVX has been the subject of a number of recent analyst reports. Melius initiated coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Bank of America increased their price target on Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Chevron in a research report on Thursday, July 31st. Piper Sandler raised their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Finally, Scotiabank restated a “sector perform” rating and set a $160.00 price objective (up from $143.00) on shares of Chevron in a research report on Friday, July 11th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $165.15.

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; 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.