Chevron Corporation $CVX Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its position in Chevron Corporation (NYSE:CVX) by 19.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,594 shares of the oil and gas company’s stock after selling 36,056 shares during the quarter. Chevron comprises 1.0% of Logan Capital Management Inc.’s holdings, making the stock its 21st largest position. Logan Capital Management Inc.’s holdings in Chevron were worth $20,991,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Advisory Alpha LLC lifted its holdings in Chevron by 1.5% in the 2nd quarter. Advisory Alpha LLC now owns 9,443 shares of the oil and gas company’s stock valued at $1,352,000 after purchasing an additional 136 shares in the last quarter. Rossby Financial LCC grew its holdings in shares of Chevron by 3.3% during the second quarter. Rossby Financial LCC now owns 5,159 shares of the oil and gas company’s stock worth $739,000 after buying an additional 165 shares in the last quarter. SYM FINANCIAL Corp raised its position in shares of Chevron by 26.3% in the second quarter. SYM FINANCIAL Corp now owns 4,091 shares of the oil and gas company’s stock valued at $586,000 after buying an additional 851 shares during the last quarter. Facet Wealth Inc. purchased a new position in shares of Chevron in the second quarter worth about $260,000. Finally, Jericho Financial LLP lifted its stake in shares of Chevron by 1.4% in the second quarter. Jericho Financial LLP now owns 30,968 shares of the oil and gas company’s stock worth $4,434,000 after buying an additional 424 shares in the last quarter. 72.42% of the stock is currently owned by hedge funds and other institutional investors.

Chevron Stock Down 0.1%

CVX stock opened at $155.38 on Tuesday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The firm has a market cap of $268.49 billion, a PE ratio of 20.00, a PEG ratio of 4.42 and a beta of 0.84. The firm’s 50 day moving average price is $156.03 and its 200-day moving average price is $148.55. 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 posted its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (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 company had revenue of $44.82 billion during the quarter, compared to analysts’ expectations of $44.59 billion. During the same quarter last year, the firm earned $2.55 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $160.00 price objective (down previously from $170.00) on shares of Chevron in a research note on Friday, October 17th. Barclays lowered their target price on Chevron from $160.00 to $158.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Melius started coverage on Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target for the company. Bank of America lifted their price objective on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. Finally, Mizuho dropped their target price on Chevron from $192.00 to $191.00 and set an “outperform” rating for the company in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $165.25.

Insider Activity

In related news, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president directly owned 1,181 shares in the company, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares of the company’s stock, 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 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.