Chevron Corporation $CVX Shares Sold by GAM Holding AG

GAM Holding AG trimmed its position in shares of Chevron Corporation (NYSE:CVX) by 25.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,385 shares of the oil and gas company’s stock after selling 2,808 shares during the period. GAM Holding AG’s holdings in Chevron were worth $1,201,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CVX. Analyst IMS Investment Management Services Ltd. grew its stake in shares of Chevron by 1.0% during the second quarter. Analyst IMS Investment Management Services Ltd. now owns 6,751 shares of the oil and gas company’s stock valued at $966,000 after acquiring an additional 67 shares in the last quarter. Greenfield Savings Bank increased its holdings in Chevron by 0.6% during the 2nd quarter. Greenfield Savings Bank now owns 11,611 shares of the oil and gas company’s stock worth $1,663,000 after purchasing an additional 68 shares during the last quarter. Atwater Malick LLC increased its holdings in Chevron by 2.4% during the 2nd 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 grew its position in shares of Chevron by 0.7% during 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 buying an additional 68 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Chevron by 10.3% during the second quarter. Mowery & Schoenfeld Wealth Management LLC now owns 750 shares of the oil and gas company’s stock worth $107,000 after buying an additional 70 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Chevron Trading Up 2.6%

NYSE CVX opened at $157.58 on Friday. Chevron Corporation has a one year low of $132.04 and a one year high of $168.96. The company has a 50-day simple moving average of $156.07 and a 200-day simple moving average of $149.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.74 and a current ratio of 1.00. The firm has a market capitalization of $272.30 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 4.40 and a beta of 0.84.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.14. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $49.73 billion during the quarter, compared to the consensus estimate of $46.99 billion. During the same period in the previous year, the firm posted $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a yield of 4.3%. Chevron’s payout ratio is currently 88.03%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CVX. Jefferies Financial Group reissued a “buy” rating on shares of Chevron in a research report on Friday, July 18th. Scotiabank raised their price objective on shares of Chevron from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Thursday, October 9th. Evercore ISI reiterated an “outperform” rating and issued a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Barclays lowered their price objective on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.25.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $160.00, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.21% of the company’s stock.

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.