Dale Q Rice Investment Management Ltd Sells 2,052 Shares of Chevron Corporation $CVX

Dale Q Rice Investment Management Ltd trimmed its holdings in Chevron Corporation (NYSE:CVX) by 50.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,052 shares of the oil and gas company’s stock after selling 2,052 shares during the quarter. Dale Q Rice Investment Management Ltd’s holdings in Chevron were worth $308,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Greenfield Savings Bank increased its holdings in Chevron by 0.6% in the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after buying an additional 68 shares in the last quarter. Atwater Malick LLC boosted its position in Chevron by 2.4% in the second quarter. Atwater Malick LLC now owns 2,886 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 68 shares during the last quarter. Hubbell Strickland Wealth Management LLC boosted its position in Chevron by 0.7% in the second quarter. Hubbell Strickland Wealth Management LLC now owns 10,081 shares of the oil and gas company’s stock worth $1,443,000 after purchasing an additional 68 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC boosted its position in Chevron by 10.3% in the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after purchasing an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its position in Chevron by 4.1% in the second quarter. Capital Advisors Ltd. LLC now owns 1,815 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 71 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on CVX shares. Wells Fargo & Company started coverage on Chevron in a research report on Friday. They issued an “overweight” rating and a $190.00 target price on the stock. Scotiabank raised their target price on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 9th. Raymond James Financial reissued an “outperform” rating and issued a $160.00 target price (down from $170.00) on shares of Chevron in a research report on Friday. Melius Research started coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price on the stock. Finally, Piper Sandler raised their target price on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research report on Monday, August 18th. Eleven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $165.25.

Chevron Stock Up 0.9%

NYSE CVX opened at $153.12 on Friday. The stock’s 50-day moving average price is $156.03 and its 200-day moving average price is $148.15. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16. Chevron Corporation has a 52 week low of $132.04 and a 52 week high of $168.96. The company has a market capitalization of $264.58 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 2.00 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 EPS for the quarter, topping 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 firm had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same quarter last year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, equities research analysts predict that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

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

Insider Activity at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction that occurred 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 owned 1,181 shares of the company’s stock, valued at approximately $188,960. This trade represents a 77.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Hess sold 375,000 shares of Chevron stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total value 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 position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

About Chevron

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.