Stonnington Group LLC Cuts Stake in Chevron Co. (NYSE:CVX)

Stonnington Group LLC reduced its stake in Chevron Co. (NYSE:CVXGet Rating) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,123 shares of the oil and gas company’s stock after selling 1,138 shares during the period. Stonnington Group LLC’s holdings in Chevron were worth $1,022,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Your Advocates Ltd. LLP bought a new position in shares of Chevron during the first quarter valued at $25,000. Cordant Inc. bought a new position in shares of Chevron during the first quarter valued at $29,000. Joseph P. Lucia & Associates LLC bought a new position in Chevron in the first quarter valued at about $30,000. Landmark Wealth Management LLC bought a new position in Chevron in the first quarter valued at about $34,000. Finally, Byrne Asset Management LLC bought a new position in Chevron in the fourth quarter valued at about $36,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

NYSE CVX opened at $156.45 on Monday. The stock has a market capitalization of $307.39 billion, a PE ratio of 10.44, a P/E/G ratio of 0.60 and a beta of 1.15. The business has a 50 day simple moving average of $154.36 and a two-hundred day simple moving average of $160.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.31 and a quick ratio of 1.11. Chevron Co. has a 1-year low of $93.31 and a 1-year high of $182.40.

Chevron (NYSE:CVXGet Rating) last announced its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $1.16. The firm had revenue of $68.76 billion during the quarter, compared to analysts’ expectations of $57.69 billion. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company’s quarterly revenue was up 82.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. On average, research analysts predict that Chevron Co. will post 18.4 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s dividend payout ratio is currently 37.89%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CVX shares. HSBC raised Chevron from a “hold” rating to a “buy” rating and lowered their target price for the company from $183.00 to $167.00 in a report on Wednesday, July 20th. Morgan Stanley increased their target price on Chevron from $187.00 to $193.00 and gave the company an “equal weight” rating in a report on Tuesday, September 6th. Societe Generale raised Chevron from a “hold” rating to a “buy” rating in a research note on Thursday, August 4th. Cowen raised their price objective on Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Finally, Piper Sandler raised their price objective on Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Chevron presently has a consensus rating of “Moderate Buy” and an average price target of $169.20.

Insider Buying and Selling

In related news, EVP James William Johnson sold 85,300 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $164.01, for a total transaction of $13,990,053.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Chevron news, Director Wanda M. Austin sold 11,432 shares of Chevron stock in a transaction on Monday, August 1st. The stock was sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the sale, the director now directly owns 3,560 shares of the company’s stock, valued at approximately $574,762. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James William Johnson sold 85,300 shares of Chevron stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $164.01, for a total value of $13,990,053.00. The disclosure for this sale can be found here. In the last three months, insiders sold 141,732 shares of company stock valued at $23,024,499. Insiders own 0.32% of the company’s stock.

Chevron Profile

(Get Rating)

Chevron Corporation, through its subsidiaries, engages in integrated energy and chemicals operations worldwide. 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 associated with liquefied natural gas; transportation of crude oil through pipelines; and transportation, storage, and marketing of natural gas, as well as operates a gas-to-liquids plant.

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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