Chevron Corporation $CVX Holdings Trimmed by Dupont Capital Management Corp

Dupont Capital Management Corp decreased its stake in Chevron Corporation (NYSE:CVX) by 7.1% in the second quarter, HoldingsChannel reports. The firm owned 72,767 shares of the oil and gas company’s stock after selling 5,522 shares during the period. Dupont Capital Management Corp’s holdings in Chevron were worth $10,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CVX. Harvest Fund Management Co. Ltd boosted its position in shares of Chevron by 420.7% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 151 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 122 shares during the period. Elequin Capital LP acquired a new position in shares of Chevron in the 1st quarter valued at $31,000. Cloud Capital Management LLC acquired a new position in shares of Chevron in the 1st quarter valued at $39,000. Investment Management Corp VA ADV boosted its position in shares of Chevron by 171.3% in the 1st quarter. Investment Management Corp VA ADV now owns 236 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 149 shares during the period. Finally, GFG Capital LLC acquired a new position in shares of Chevron in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 0.9%

CVX opened at $154.53 on Tuesday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The business has a 50-day moving average of $156.05 and a 200-day moving average of $148.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.00 and a quick ratio of 0.74. The company has a market capitalization of $267.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 2.02 and a beta of 0.84.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 period last year, the business earned $2.55 EPS. The business’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Dividend Announcement

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

Insider Transactions at Chevron

In related news, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the transaction, the vice president directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John B. Hess sold 375,000 shares of the firm’s 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 completion of the transaction, the director directly owned 1,403,045 shares in the company, valued at $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. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CVX shares. UBS Group increased their price objective on Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a research note on Wednesday, August 20th. Scotiabank increased their price objective on Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 9th. Piper Sandler increased their price objective on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company started coverage on Chevron in a research note on Friday. They issued an “overweight” rating and a $190.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $165.25.

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.