Chevron Corporation $CVX Shares Sold by Brookmont Capital Management

Brookmont Capital Management reduced its holdings in Chevron Corporation (NYSE:CVX) by 47.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 10,918 shares of the oil and gas company’s stock after selling 9,949 shares during the quarter. Brookmont Capital Management’s holdings in Chevron were worth $1,563,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CVX. Kingstone Capital Partners Texas LLC grew its holdings in shares of 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 valued at $13,214,757,000 after purchasing an additional 83,702,101 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Chevron by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the last quarter. Invesco Ltd. increased its position in Chevron by 5.5% in the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock worth $2,652,437,000 after buying an additional 827,851 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Chevron by 0.3% during the first 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 acquiring an additional 40,758 shares during the period. Finally, GQG Partners LLC acquired a new stake in shares of Chevron in the 1st quarter worth about $1,466,751,000. Institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CVX shares. UBS Group boosted their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Morgan Stanley began coverage on Chevron in a research report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and set a $178.00 price target on shares of Chevron in a report on Friday, August 1st. TD Cowen lifted their price objective on shares of Chevron from $150.00 to $155.00 and gave the company a “hold” rating in a research note on Monday, August 4th. Finally, Barclays reiterated an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. 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.com, the company has a consensus rating of “Hold” and a consensus target price of $165.05.

Insider Buying and Selling at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s 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 sale, the director owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $160.00, for a total value 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 approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Chevron Price Performance

NYSE CVX opened at $153.53 on Friday. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The business’s fifty day moving average is $156.26 and its two-hundred day moving average is $149.14. The stock has a market capitalization of $265.30 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.97 and a beta of 0.84. 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 announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion for the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.55 earnings per share. On average, research analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Dividend Announcement

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

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.