Broderick Brian C Sells 2,345 Shares of Chevron Corporation $CVX

Broderick Brian C lessened its stake in Chevron Corporation (NYSE:CVX) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,975 shares of the oil and gas company’s stock after selling 2,345 shares during the period. Broderick Brian C’s holdings in Chevron were worth $3,863,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CVX. Kidder Stephen W increased its stake in Chevron by 0.7% in the 2nd quarter. Kidder Stephen W now owns 33,897 shares of the oil and gas company’s stock worth $4,854,000 after purchasing an additional 230 shares during the period. Secured Retirement Advisors LLC grew its holdings in shares of Chevron by 16.6% in the second quarter. Secured Retirement Advisors LLC now owns 12,418 shares of the oil and gas company’s stock worth $1,778,000 after purchasing an additional 1,769 shares during the last quarter. Lakeshore Capital Group Inc. increased its stake in shares of Chevron by 18.5% in the second quarter. Lakeshore Capital Group Inc. now owns 5,140 shares of the oil and gas company’s stock worth $736,000 after buying an additional 803 shares during the period. Spectrum Asset Management Inc. NB CA raised its holdings in Chevron by 7.4% during the 2nd quarter. Spectrum Asset Management Inc. NB CA now owns 35,244 shares of the oil and gas company’s stock valued at $5,047,000 after buying an additional 2,422 shares during the last quarter. Finally, REAP Financial Group LLC raised its holdings in Chevron by 110.1% during the 2nd quarter. REAP Financial Group LLC now owns 704 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 369 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CVX. Scotiabank reissued a “sector perform” rating and issued a $160.00 price target (up previously from $143.00) on shares of Chevron in a report on Friday, July 11th. Melius Research started coverage on shares of Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 target price for the company. Morgan Stanley started coverage on Chevron in a report on Monday, August 4th. They set an “overweight” rating and a $174.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Finally, Bank of America increased their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Eleven 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 company. According to data from MarketBeat.com, Chevron presently has an average rating of “Hold” and an average target price of $165.15.

Chevron Price Performance

CVX stock opened at $154.92 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. Chevron Corporation has a 1 year low of $132.04 and a 1 year high of $168.96. The firm has a 50-day moving average of $156.15 and a 200 day moving average of $148.84. The company has a market cap of $267.70 billion, a P/E ratio of 19.94, a PEG ratio of 1.99 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings data on Friday, August 1st. The oil and gas company reported $1.77 earnings per share 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 business had revenue of $44.82 billion for the quarter, compared to analysts’ expectations of $44.59 billion. During the same period in the previous year, the firm posted $2.55 EPS. The business’s revenue was down 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

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

Insiders Place Their Bets

In other Chevron 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 transaction, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of the business’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 sale, the director owned 1,403,045 shares in the company, valued at approximately $222,102,023.50. This trade represents a 21.09% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Chevron Company 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.