Chevron Corporation $CVX Stock Holdings Lowered by RPG Investment Advisory LLC

RPG Investment Advisory LLC trimmed its holdings in shares of Chevron Corporation (NYSE:CVX) by 50.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,750 shares of the oil and gas company’s stock after selling 117,127 shares during the period. Chevron comprises approximately 2.1% of RPG Investment Advisory LLC’s investment portfolio, making the stock its 19th biggest position. RPG Investment Advisory LLC’s holdings in Chevron were worth $16,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CVX. Harvest Fund Management Co. Ltd grew its holdings 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 worth $25,000 after acquiring an additional 122 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Chevron during the first quarter valued at $31,000. Quaker Wealth Management LLC boosted its position in shares of Chevron by 197.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 439 shares during the period. IMG Wealth Management Inc. increased its stake in Chevron by 52.3% in the 2nd quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 91 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in Chevron during the 2nd quarter worth about $42,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Performance

CVX stock opened at $149.79 on Tuesday. The firm has a 50 day moving average of $154.68 and a two-hundred day moving average of $151.04. Chevron Corporation has a 12 month low of $132.04 and a 12 month high of $168.96. The company has a market capitalization of $301.61 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 4.40 and a beta of 0.83. 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 (NYSE:CVX) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.14. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a net margin of 7.02% and a return on equity of 9.90%. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.48 EPS. As a group, equities analysts anticipate that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be given a $1.71 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

Wall Street Analysts Forecast Growth

CVX has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a report on Monday, November 10th. TD Cowen raised their price objective on shares of Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Mizuho lifted their price objective on shares of Chevron from $191.00 to $204.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. Scotiabank boosted their target price on shares of Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Thursday, October 9th. Finally, Melius began coverage on Chevron in a research report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chevron has an average rating of “Hold” and a consensus price target of $166.55.

Insider Activity

In other Chevron news, VP Alana K. Knowles sold 3,978 shares of the company’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 transaction of $636,480.00. Following the completion of the sale, the vice president owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John B. Hess sold 275,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the transaction, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This trade represents a 19.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

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.