Chevron Corporation $CVX Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,319 shares of the oil and gas company’s stock after selling 659 shares during the quarter. Level Four Advisory Services LLC’s holdings in Chevron were worth $6,346,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CVX. Kingstone Capital Partners Texas LLC grew its holdings in Chevron by 652,139.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock worth $13,214,757,000 after acquiring an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock worth $4,979,255,000 after purchasing an additional 1,342,723 shares in the last quarter. Franklin Resources Inc. boosted its position in Chevron by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock worth $2,543,712,000 after purchasing an additional 370,287 shares in the last quarter. Invesco Ltd. grew its stake in shares of Chevron by 5.5% during the 1st quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after purchasing an additional 827,851 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Chevron by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock valued at $2,054,513,000 after purchasing an additional 40,758 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CVX. Raymond James Financial reissued an “outperform” rating and set a $160.00 price target (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Mizuho increased their target price on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Melius Research initiated coverage on Chevron in a research note on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research lowered Chevron from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Ten investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Hold” and an average target price of $165.58.

Chevron Trading Up 1.1%

CVX stock opened at $151.21 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business’s 50-day moving average is $153.97 and its 200 day moving average is $151.16. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The stock has a market cap of $304.46 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 4.40 and a beta of 0.83.

Chevron (NYSE:CVX) last announced its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analysts’ expectations of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.48 earnings per share. On average, sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s payout ratio is 96.20%.

Insider Activity

In other news, Director John B. Hess sold 275,000 shares of the stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the sale, the director directly owned 1,128,045 shares in the company, valued at $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is 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.