Nvest Financial LLC Decreases Stock Holdings in Chevron Co. (NYSE:CVX)

Nvest Financial LLC trimmed its position in shares of Chevron Co. (NYSE:CVXGet Rating) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,734 shares of the oil and gas company’s stock after selling 279 shares during the quarter. Chevron comprises about 2.2% of Nvest Financial LLC’s investment portfolio, making the stock its 15th largest holding. Nvest Financial LLC’s holdings in Chevron were worth $2,133,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Your Advocates Ltd. LLP purchased a new stake in shares of Chevron during the first quarter valued at about $25,000. Cordant Inc. acquired a new stake in Chevron in the 1st quarter worth approximately $29,000. Joseph P. Lucia & Associates LLC purchased a new stake in Chevron during the 1st quarter worth approximately $30,000. Orion Capital Management LLC increased its stake in Chevron by 85.0% during the 1st quarter. Orion Capital Management LLC now owns 222 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 102 shares in the last quarter. Finally, Worth Asset Management LLC purchased a new position in shares of Chevron in the first quarter worth $36,000. 69.30% of the stock is owned by hedge funds and other institutional investors.

Chevron Stock Performance

CVX opened at $154.89 on Friday. The firm’s fifty day simple moving average is $155.74 and its two-hundred day simple moving average is $160.31. Chevron Co. has a 52-week low of $97.75 and a 52-week high of $182.40. The company has a market cap of $304.33 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.60 and a beta of 1.15. 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 posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $5.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $1.16. Chevron had a return on equity of 19.73% and a net margin of 13.45%. The company had revenue of $68.76 billion for the quarter, compared to analysts’ expectations of $57.69 billion. During the same period in the previous year, the firm posted $1.71 EPS. Chevron’s revenue was up 82.9% compared to the same quarter last year. Equities analysts anticipate that Chevron Co. will post 18.37 earnings per share for the current fiscal year.

Chevron Announces Dividend

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

Analyst Upgrades and Downgrades

CVX has been the topic of a number of research analyst reports. Cowen boosted their price objective on shares of Chevron from $119.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 15th. Bank of America increased their price objective on Chevron from $178.00 to $180.00 and gave the company a “buy” rating in a report on Monday, August 1st. HSBC raised Chevron from a “hold” rating to a “buy” rating and decreased their target price for the stock from $183.00 to $167.00 in a report on Wednesday, July 20th. Wells Fargo & Company raised 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, Credit Suisse Group reaffirmed an “outperform” rating and issued a $202.00 price objective on shares of Chevron in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Chevron has an average rating of “Moderate Buy” and a consensus price target of $169.20.

Insider Buying and Selling at Chevron

In other news, CFO Pierre R. Breber sold 22,500 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 7 shares of the company’s stock, valued at $1,106.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP James William Johnson sold 85,300 shares of Chevron 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 filing with the SEC, which is accessible through this hyperlink. Also, CFO Pierre R. Breber sold 22,500 shares of the business’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $158.11, for a total value of $3,557,475.00. Following the transaction, the chief financial officer now directly owns 7 shares in the company, valued at approximately $1,106.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 141,732 shares of company stock worth $23,024,499. Corporate 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.

See Also

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Institutional Ownership by Quarter for Chevron (NYSE:CVX)

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