Appleton Partners Inc. MA Sells 915 Shares of Chevron Corporation $CVX

Appleton Partners Inc. MA decreased its holdings in Chevron Corporation (NYSE:CVX) by 24.8% in the second quarter, Holdings Channel.com reports. The firm owned 2,769 shares of the oil and gas company’s stock after selling 915 shares during the period. Appleton Partners Inc. MA’s holdings in Chevron were worth $396,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC increased its stake in Chevron by 652,139.5% in the 2nd 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 purchasing an additional 83,702,101 shares during the period. GQG Partners LLC purchased a new position in shares of Chevron in the first quarter valued at about $1,466,751,000. Nuveen LLC bought a new position in shares of Chevron during the first quarter valued at about $1,362,232,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Chevron by 4.9% during the first 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 purchasing an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Chevron by 141.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after purchasing an additional 1,107,628 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CVX shares. Scotiabank reaffirmed a “sector perform” rating and set a $160.00 price target (up previously from $143.00) on shares of Chevron in a research report on Friday, July 11th. Melius Research initiated coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Bank of America boosted their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Piper Sandler upped their price objective on shares of Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a report on Monday, August 18th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Chevron in a research report on Tuesday, July 15th. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Chevron has a consensus rating of “Hold” and a consensus target price of $165.05.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 sale, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. This trade represents a 21.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Chevron Price Performance

Shares of CVX opened at $153.99 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm’s 50-day simple moving average is $156.19 and its two-hundred day simple moving average is $148.80. The stock has a market cap of $266.09 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.99 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 issued its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.19. The firm had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’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 posted $2.55 EPS. 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 issued a dividend of $1.71 per share. The ex-dividend date was Tuesday, August 19th. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. Chevron’s dividend payout ratio (DPR) 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.