Carnegie Capital Asset Management LLC Reduces Position in Chevron Co. (NYSE:CVX)

Carnegie Capital Asset Management LLC decreased its holdings in shares of Chevron Co. (NYSE:CVXGet Rating) by 15.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,564 shares of the oil and gas company’s stock after selling 10,991 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Chevron were worth $6,447,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Your Advocates Ltd. LLP acquired a new position in Chevron in the first quarter valued at about $25,000. Cordant Inc. acquired a new position in Chevron in the first quarter valued at about $29,000. Joseph P. Lucia & Associates LLC acquired a new position in Chevron in the first quarter valued at about $30,000. Orion Capital Management LLC lifted its position in Chevron by 85.0% in the first quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 102 shares during the last quarter. Finally, Worth Asset Management LLC acquired a new position in Chevron in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 69.30% of the company’s stock.

Chevron Stock Down 0.1 %

Shares of NYSE:CVX opened at $154.89 on Friday. The firm’s 50 day moving average price is $155.74 and its 200 day moving average price is $160.31. The stock has a market cap of $304.33 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. Chevron Co. has a fifty-two week low of $97.75 and a fifty-two week high of $182.40. The company has a quick ratio of 1.11, a current ratio of 1.31 and a debt-to-equity ratio of 0.15.

Chevron (NYSE:CVXGet Rating) last announced its quarterly 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. The company had revenue of $68.76 billion for the quarter, compared to analyst estimates of $57.69 billion. Chevron had a net margin of 13.45% and a return on equity of 19.73%. The firm’s revenue was up 82.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.71 earnings per share. As a group, equities research analysts predict that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of recent analyst reports. Societe Generale raised shares of Chevron from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $172.00 target price on shares of Chevron in a research report on Thursday, August 4th. Piper Sandler increased their price target on shares of Chevron from $189.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Wells Fargo & Company increased their price target on shares of Chevron from $181.00 to $185.00 and gave the stock an “overweight” rating in a research report on Monday, August 1st. Finally, Citigroup reduced their price target on shares of Chevron from $170.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.20.

Insider Buying and Selling at Chevron

In other Chevron news, Director Wanda M. Austin sold 11,432 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $161.45, for a total value of $1,845,696.40. Following the transaction, the director now directly owns 3,560 shares in the company, valued at $574,762. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Pierre R. Breber sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $158.11, for a total transaction of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares in the company, valued at $1,106.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wanda M. Austin sold 11,432 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,560 shares in the company, valued at $574,762. The disclosure for this sale can be found here. Insiders have sold 141,732 shares of company stock worth $23,024,499 over the last three months. Insiders own 0.32% of the company’s stock.

Chevron Company 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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