Chevron Corporation $CVX Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 563,019 shares of the oil and gas company’s stock after selling 9,216 shares during the quarter. Chevron comprises 1.0% of Everett Harris & Co. CA’s portfolio, making the stock its 20th largest position. Everett Harris & Co. CA’s holdings in Chevron were worth $80,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CVX. Rice Hall James & Associates LLC grew its position in Chevron by 2.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 3,467 shares of the oil and gas company’s stock worth $580,000 after purchasing an additional 90 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of Chevron by 58.9% during the first quarter. Edgestream Partners L.P. now owns 19,412 shares of the oil and gas company’s stock worth $3,247,000 after buying an additional 7,198 shares during the period. Grey Fox Wealth Advisors LLC grew its holdings in Chevron by 6.9% in the 1st quarter. Grey Fox Wealth Advisors LLC now owns 2,424 shares of the oil and gas company’s stock worth $406,000 after buying an additional 157 shares in the last quarter. Hager Investment Management Services LLC increased its position in Chevron by 3.9% in the 1st quarter. Hager Investment Management Services LLC now owns 3,249 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 121 shares during the period. Finally, Cornercap Investment Counsel Inc. increased its position in Chevron by 62.2% in the 1st quarter. Cornercap Investment Counsel Inc. now owns 13,750 shares of the oil and gas company’s stock valued at $2,300,000 after acquiring an additional 5,275 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Price Performance

Shares of NYSE CVX opened at $156.05 on Wednesday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. 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 company has a market capitalization of $269.65 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 4.40 and a beta of 0.83. The firm has a 50-day moving average of $155.33 and a two-hundred day moving average of $150.04.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $48.17 billion for the quarter, compared to analysts’ expectations of $46.99 billion. During the same quarter in the previous year, the company posted $2.48 EPS. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, analysts expect that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio is currently 96.20%.

Insiders Place Their Bets

In other news, VP Alana K. Knowles sold 3,978 shares of the firm’s 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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This trade represents a 77.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction on Friday, August 22nd. The stock was 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 $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen boosted their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research report on Monday, August 4th. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price objective for the company. Melius began coverage on shares of Chevron in a research note on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price on the stock. Bank of America boosted their price target on shares of Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company initiated coverage on shares of Chevron in a report on Friday, October 17th. They issued an “overweight” rating and a $190.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus target price of $165.45.

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.