Chevron Corporation $CVX Shares Sold by Red Cedar Investment Management LLC

Red Cedar Investment Management LLC reduced its position in Chevron Corporation (NYSE:CVX) by 9.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 38,750 shares of the oil and gas company’s stock after selling 3,973 shares during the period. Red Cedar Investment Management LLC’s holdings in Chevron were worth $7,913,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Gemmer Asset Management LLC increased its stake in shares of Chevron by 1.1% in the third quarter. Gemmer Asset Management LLC now owns 4,254 shares of the oil and gas company’s stock worth $869,000 after purchasing an additional 47 shares in the last quarter. Livet Wealth LLC lifted its stake in shares of Chevron by 4.0% during the 3rd quarter. Livet Wealth LLC now owns 1,268 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 49 shares in the last quarter. Uhlmann Price Securities LLC lifted its stake in shares of Chevron by 3.1% during the 3rd quarter. Uhlmann Price Securities LLC now owns 1,639 shares of the oil and gas company’s stock valued at $335,000 after buying an additional 49 shares in the last quarter. First PREMIER Bank boosted its holdings in Chevron by 0.8% in the 2nd quarter. First PREMIER Bank now owns 6,450 shares of the oil and gas company’s stock worth $1,070,000 after buying an additional 50 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its holdings in Chevron by 1.8% in the 2nd quarter. Vanguard Capital Wealth Advisors now owns 2,818 shares of the oil and gas company’s stock worth $467,000 after buying an additional 50 shares during the period. 72.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVX. Weiss Ratings lowered shares of Chevron from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, November 2nd. Royal Bank Of Canada increased their target price on Chevron from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. DZ Bank lowered Chevron from a “buy” rating to a “hold” rating and set a $240.00 price target for the company. in a report on Tuesday, November 3rd. BNP Paribas Exane cut their price target on Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Finally, Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and an average price target of $221.88.

Chevron Trading Down 0.8%

Shares of Chevron stock opened at $210.91 on Tuesday. The company’s 50-day moving average price is $215.09 and its 200-day moving average price is $194.63. The company has a current ratio of 1.25, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $236.48. The company has a market cap of $416.71 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 0.51 and a beta of 0.47.

Chevron (NYSE:CVX) last issued its quarterly earnings data on Friday, October 30th. The oil and gas company reported $5.28 EPS for the quarter, beating the consensus estimate of $4.87 by $0.41. The company had revenue of $65.24 billion during the quarter, compared to analysts’ expectations of $61.82 billion. Chevron had a net margin of 11.56% and a return on equity of 14.64%. Chevron’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.85 earnings per share. On average, equities analysts expect that Chevron Corporation will post 18.56 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 18th will be paid a $1.78 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $7.12 annualized dividend and a yield of 3.4%. Chevron’s dividend payout ratio is currently 52.08%.

Insider Buying and Selling at Chevron

In other Chevron news, insider Andrew Walz sold 16,800 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $201.06, for a total value of $3,377,808.00. Following the completion of the transaction, the insider directly owned 14 shares of the company’s stock, valued at $2,814.84. This trade represents a 99.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R. Pate sold 40,700 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total transaction of $9,224,655.00. Following the transaction, the insider owned 8,791 shares of the company’s stock, valued at $1,992,480.15. This trade represents a 82.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 379,470 shares of company stock valued at $77,216,415 in the last three months. Company insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE:CVX) is an integrated energy company engaged in the exploration, development, production, transportation and sale of crude oil and natural gas. Its upstream operations include oil and gas exploration and production, while its downstream business includes refining crude oil, marketing fuels and manufacturing and distributing lubricants, petrochemicals and fuel additives.

The company also invests in lower-carbon businesses and technologies, including renewable fuels, carbon capture and storage, hydrogen and other opportunities intended to reduce emissions from its operations and energy products.