Chevron Corporation $CVX Shares Sold by KDT Advisors LLC

KDT Advisors LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 32.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,062 shares of the oil and gas company’s stock after selling 1,993 shares during the quarter. KDT Advisors LLC’s holdings in Chevron were worth $582,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CVX. Analyst IMS Investment Management Services Ltd. grew its holdings in Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock worth $966,000 after acquiring an additional 67 shares during the period. Greenfield Savings Bank raised its position in shares of Chevron by 0.6% in the second quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 68 shares during the period. Atwater Malick LLC raised its position in shares of Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after acquiring an additional 68 shares during the period. Hubbell Strickland Wealth Management LLC raised its position in shares of Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after acquiring an additional 68 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in shares of Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after acquiring an additional 70 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director John B. Hess sold 375,000 shares of Chevron 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 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 is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

Chevron Stock Up 2.6%

Shares of CVX opened at $157.58 on Monday. Chevron Corporation has a 52-week low of $132.04 and a 52-week high of $168.96. The company has a market capitalization of $272.30 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84. The stock has a fifty day simple moving average of $156.07 and a two-hundred day simple moving average of $149.20. 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 earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. Chevron had a net margin of 7.02% and a return on equity of 9.90%. The company had revenue of $49.73 billion for the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the firm earned $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts forecast 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, December 10th. Stockholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.3%. Chevron’s dividend payout ratio is currently 88.03%.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on shares of Chevron from $164.00 to $168.00 and gave the company an “overweight” rating in a research note on Monday, August 18th. Melius Research assumed coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Morgan Stanley began coverage on shares of Chevron in a research note on Monday, August 4th. They set an “overweight” rating and a $174.00 target price for the company. Wells Fargo & Company began coverage on Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.25.

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.