Chevron Corporation $CVX Stock Position Lowered by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC cut its stake in shares of Chevron Corporation (NYSE:CVX) by 10.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 161,427 shares of the oil and gas company’s stock after selling 18,487 shares during the period. Chevron comprises about 3.4% of Villere ST Denis J & Co. LLC’s holdings, making the stock its 5th biggest holding. Villere ST Denis J & Co. LLC’s holdings in Chevron were worth $32,965,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Leuthold Group LLC boosted its stake in Chevron by 1,627.4% during the 3rd quarter. Leuthold Group LLC now owns 43,099 shares of the oil and gas company’s stock worth $8,801,000 after purchasing an additional 40,604 shares during the last quarter. Retirement Systems of Alabama boosted its position in Chevron by 1.8% during the third quarter. Retirement Systems of Alabama now owns 1,162,074 shares of the oil and gas company’s stock worth $237,307,000 after acquiring an additional 21,048 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Chevron during the 3rd quarter valued at about $231,000. Joseph Group Capital Management grew its position in shares of Chevron by 5.1% in the third quarter. Joseph Group Capital Management now owns 26,871 shares of the oil and gas company’s stock valued at $5,487,000 after purchasing an additional 1,299 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Chevron by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 394,248 shares of the oil and gas company’s stock worth $81,649,000 after acquiring an additional 50,103 shares during the last quarter. Hedge funds and other institutional investors own 72.42% of the company’s stock.

Chevron Stock Down 0.8%

Chevron stock opened at $210.91 on Tuesday. Chevron Corporation has a fifty-two week low of $146.49 and a fifty-two week high of $236.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.98 and a current ratio of 1.25. The firm has a 50 day moving average price of $215.09 and a 200 day moving average price of $194.63. The company has a market capitalization of $416.71 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 0.51 and a beta of 0.47.

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

Chevron Dividend Announcement

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

Analysts Set New Price Targets

CVX has been the subject of a number of analyst reports. BNP Paribas Exane dropped their price objective on shares of Chevron from $230.00 to $224.00 and set an “outperform” rating for the company in a report on Friday, July 17th. Barclays boosted their target price on shares of Chevron from $208.00 to $244.00 and gave the company an “equal weight” rating in a report on Monday, November 2nd. Dbs Bank raised shares of Chevron to a “moderate buy” rating in a research note on Thursday, August 6th. DZ Bank downgraded shares of 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. Finally, William Blair began coverage on shares of Chevron in a research report on Wednesday, October 28th. They set an “outperform” rating on the stock. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Insider Activity

In related news, insider Andrew Walz sold 16,800 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $201.06, for a total transaction of $3,377,808.00. Following the transaction, the insider owned 14 shares of the company’s stock, valued at approximately $2,814.84. This represents a 99.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R. Pate sold 40,700 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $226.65, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 379,470 shares of company stock valued at $77,216,415. 0.56% of the stock is currently owned by corporate insiders.

About Chevron

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.