ACG Wealth Has $1.77 Million Position in Chevron Co. (NYSE:CVX)

ACG Wealth reduced its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,229 shares of the oil and gas company’s stock after selling 99 shares during the period. ACG Wealth’s holdings in Chevron were worth $1,770,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Chevron by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 167,767,288 shares of the oil and gas company’s stock valued at $27,317,547,000 after acquiring an additional 4,367,157 shares in the last quarter. Norges Bank acquired a new position in Chevron in the fourth quarter valued at about $3,111,594,000. Charles Schwab Investment Management Inc. boosted its position in Chevron by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,697,160 shares of the oil and gas company’s stock valued at $2,393,138,000 after buying an additional 189,762 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Chevron by 17.3% in the first quarter. Dimensional Fund Advisors LP now owns 9,763,275 shares of the oil and gas company’s stock valued at $1,589,915,000 after buying an additional 1,437,047 shares in the last quarter. Finally, Swiss National Bank boosted its position in Chevron by 13.6% in the first quarter. Swiss National Bank now owns 8,349,332 shares of the oil and gas company’s stock valued at $1,359,522,000 after buying an additional 998,700 shares in the last quarter. 69.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James William Johnson sold 85,300 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wanda M. Austin sold 11,432 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total transaction of $1,845,696.40. Following the completion of the transaction, the director now owns 3,560 shares of the company’s stock, valued at approximately $574,762. The disclosure for this sale can be found here. Insiders sold 141,732 shares of company stock worth $23,024,499 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on CVX shares. Bank of America boosted their price target on shares of Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, August 1st. Credit Suisse Group restated an “outperform” rating and issued a $202.00 price target on shares of Chevron in a research report on Thursday, August 11th. Cowen boosted their target price on shares of Chevron from $119.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, August 15th. Piper Sandler boosted their target price on shares of Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, September 12th. Finally, Truist Financial dropped their target price on shares of Chevron from $170.00 to $166.00 and set a “hold” rating for the company in a research note on Tuesday, July 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Chevron presently has an average rating of “Moderate Buy” and a consensus target price of $169.20.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX opened at $154.89 on Friday. Chevron Co. has a 52 week low of $97.75 and a 52 week high of $182.40. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.11 and a current ratio of 1.31. The company has a market capitalization of $304.33 billion, a PE ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15. The company has a 50 day moving average price of $155.74 and a two-hundred day moving average price of $160.31.

Chevron (NYSE:CVXGet Rating) last issued its earnings results on Friday, July 29th. The oil and gas company reported $5.82 EPS for the quarter, beating the consensus estimate of $4.66 by $1.16. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm had revenue of $68.76 billion during the quarter, compared to the consensus estimate of $57.69 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. The business’s quarterly revenue was up 82.9% on a year-over-year basis. Analysts forecast that Chevron Co. will post 18.37 earnings per share for the current year.

Chevron Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were issued a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Thursday, August 18th. Chevron’s dividend payout ratio (DPR) is presently 37.89%.

Chevron Profile

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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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