Checchi Capital Advisers LLC Has $3.02 Million Stock Holdings in Chevron Corporation $CVX

Checchi Capital Advisers LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,056 shares of the oil and gas company’s stock after selling 1,171 shares during the period. Checchi Capital Advisers LLC’s holdings in Chevron were worth $3,015,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC lifted its holdings in Chevron by 652,139.5% during the 2nd 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. lifted its stake in shares of 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. lifted 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 buying an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 worth $2,054,513,000 after buying an additional 40,758 shares during the last quarter. Finally, GQG Partners LLC acquired a new stake in Chevron during the first quarter worth approximately $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the subject of several research reports. UBS Group lifted their price target on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Barclays reiterated an “equal weight” rating on shares of Chevron in a research note on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Saturday, September 27th. Melius Research assumed coverage on shares of Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $160.00 price objective (up from $143.00) on shares of Chevron in a report on Friday, July 11th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $165.05.

Insider Activity

In other Chevron news, 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 transaction of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 sale, the director owned 1,403,045 shares of the company’s stock, valued at approximately $222,102,023.50. The trade was a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Chevron Price Performance

Shares of CVX opened at $153.59 on Friday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The business has a 50-day simple moving average of $156.23 and a two-hundred day simple moving average of $148.99. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. The stock has a market cap of $265.40 billion, a PE ratio of 19.77, a PEG ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last released its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion during the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter in the prior year, the firm posted $2.55 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. Analysts anticipate 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 was paid on Wednesday, September 10th. Stockholders 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 annualized dividend and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 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.