Chevron Corporation $CVX Shares Sold by Edmp Inc.

Edmp Inc. decreased its stake in Chevron Corporation (NYSE:CVX) by 2.2% during the 2nd quarter, Holdings Channel reports. The firm owned 14,809 shares of the oil and gas company’s stock after selling 339 shares during the quarter. Chevron makes up approximately 1.8% of Edmp Inc.’s investment portfolio, making the stock its 19th largest position. Edmp Inc.’s holdings in Chevron were worth $2,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Morningstar Investment Management LLC grew its position in shares of Chevron by 29.4% in the second quarter. Morningstar Investment Management LLC now owns 17,617 shares of the oil and gas company’s stock valued at $2,523,000 after purchasing an additional 3,998 shares during the period. Baker Boyer National Bank lifted its stake in shares of Chevron by 34.8% in the second quarter. Baker Boyer National Bank now owns 3,251 shares of the oil and gas company’s stock worth $466,000 after buying an additional 840 shares in the last quarter. RFG Advisory LLC lifted its stake in shares of Chevron by 46.0% in the second quarter. RFG Advisory LLC now owns 48,036 shares of the oil and gas company’s stock worth $6,878,000 after buying an additional 15,141 shares in the last quarter. Perfromance Wealth Partners LLC purchased a new position in shares of Chevron in the second quarter worth about $205,000. Finally, Axxcess Wealth Management LLC lifted its stake in shares of Chevron by 2.2% in the second quarter. Axxcess Wealth Management LLC now owns 63,839 shares of the oil and gas company’s stock worth $9,141,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Chevron stock opened at $151.86 on Tuesday. The company’s 50 day simple moving average is $156.12 and its 200-day simple moving average is $148.31. The company has a market capitalization of $262.42 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The business had revenue of $44.82 billion for 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%. The business’s revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.55 EPS. As a group, equities research analysts expect that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, August 19th. Chevron’s payout ratio is 88.03%.

Analysts Set New Price Targets

CVX has been the topic of several research reports. Melius initiated coverage on shares of Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Bank of America raised their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. Morgan Stanley initiated coverage on shares of Chevron in a research note on Monday, August 4th. They issued an “overweight” rating and a $174.00 price target on the stock. Piper Sandler raised their price target on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Chevron in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.40.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the transaction, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction of $636,480.00. Following the completion of the transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

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.