Chevron Corporation $CVX Shares Sold by Kaizen Financial Strategies

Kaizen Financial Strategies lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 34.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,610 shares of the oil and gas company’s stock after selling 855 shares during the quarter. Kaizen Financial Strategies’ holdings in Chevron were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC raised its holdings in shares of Chevron by 652,139.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. GQG Partners LLC purchased a new position in Chevron during the 1st quarter worth approximately $1,466,751,000. Nuveen LLC acquired a new position in shares of Chevron in the 1st quarter valued at $1,362,232,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock worth $5,592,263,000 after buying an additional 1,574,464 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in Chevron by 141.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,891,824 shares of the oil and gas company’s stock worth $316,483,000 after acquiring an additional 1,107,628 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Insider Buying and Selling

In related news, Director John B. Hess sold 375,000 shares of the stock in a transaction dated 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 $222,102,023.50. This represents a 21.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the 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 sale, the vice president owned 1,181 shares in the company, valued at $188,960. The trade was a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

CVX has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target on shares of Chevron from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company assumed coverage on shares of Chevron in a report on Friday, October 17th. They set an “overweight” rating and a $190.00 target price for the company. Raymond James Financial restated an “outperform” rating and issued a $160.00 price objective (down from $170.00) on shares of Chevron in a research report on Friday, October 17th. Wall Street Zen raised shares of Chevron from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Bank of America upped their price objective on shares of Chevron from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Chevron presently has a consensus rating of “Hold” and an average price target of $166.25.

Chevron Price Performance

CVX opened at $153.38 on Thursday. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The firm has a market cap of $308.84 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 4.40 and a beta of 0.83. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16. The company has a fifty day simple moving average of $155.24 and a 200 day simple moving average of $150.07.

Chevron (NYSE:CVX) last issued its quarterly 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. The firm had revenue of $48.17 billion during the quarter, compared to the consensus estimate of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.Chevron’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.48 earnings per share. Equities research analysts expect that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

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.