Chevron Corporation $CVX Holdings Lowered by Cooper Financial Group

Cooper Financial Group trimmed its stake in shares of Chevron Corporation (NYSE:CVX) by 11.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,889 shares of the oil and gas company’s stock after selling 2,077 shares during the quarter. Cooper Financial Group’s holdings in Chevron were worth $2,418,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Alley Investment Management Company LLC raised its position in shares of Chevron by 1.8% during the 2nd quarter. Alley Investment Management Company LLC now owns 115,103 shares of the oil and gas company’s stock worth $16,482,000 after buying an additional 2,089 shares in the last quarter. Broadway Wealth Solutions Inc. raised its position in shares of Chevron by 5.2% during the 2nd quarter. Broadway Wealth Solutions Inc. now owns 2,570 shares of the oil and gas company’s stock worth $368,000 after buying an additional 126 shares in the last quarter. Powers Advisory Group LLC raised its position in shares of Chevron by 3.5% during the 2nd quarter. Powers Advisory Group LLC now owns 5,437 shares of the oil and gas company’s stock worth $779,000 after buying an additional 186 shares in the last quarter. Bourgeon Capital Management LLC raised its position in shares of Chevron by 8.6% during the 2nd quarter. Bourgeon Capital Management LLC now owns 13,841 shares of the oil and gas company’s stock worth $1,982,000 after buying an additional 1,097 shares in the last quarter. Finally, FMB Wealth Management raised its position in shares of Chevron by 2.5% during the 2nd quarter. FMB Wealth Management now owns 8,423 shares of the oil and gas company’s stock worth $1,206,000 after buying an additional 208 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors.

Chevron Price Performance

NYSE CVX opened at $155.38 on Wednesday. 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 fifty day simple moving average of $156.27 and a 200 day simple moving average of $149.14. The company has a market cap of $268.50 billion, a P/E ratio of 20.00, a P/E/G ratio of 1.95 and a beta of 0.90. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.19. The business had revenue of $44.82 billion during 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%. Chevron’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.55 EPS. On average, sell-side analysts predict that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Insider Buying and Selling at Chevron

In related news, Director John B. Hess sold 375,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the company’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 sale, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays restated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Jefferies Financial Group reiterated a “buy” rating on shares of Chevron in a report on Friday, July 18th. Piper Sandler boosted their target price on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Melius Research began coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Chevron in a report on Monday, August 4th. They issued an “overweight” rating and a $174.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $165.05.

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.