Chevron Corporation $CVX Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 82.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,798 shares of the oil and gas company’s stock after selling 13,139 shares during the period. AlphaQuest LLC’s holdings in Chevron were worth $401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Moloney Securities Asset Management LLC raised its position in shares of Chevron by 2.2% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 26,399 shares of the oil and gas company’s stock worth $3,780,000 after acquiring an additional 560 shares in the last quarter. Jackson Hole Capital Partners LLC raised its position in shares of Chevron by 39.3% during the 2nd quarter. Jackson Hole Capital Partners LLC now owns 18,207 shares of the oil and gas company’s stock worth $2,607,000 after acquiring an additional 5,140 shares in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Chevron by 8.9% during the 2nd quarter. Catalyst Capital Advisors LLC now owns 17,347 shares of the oil and gas company’s stock worth $2,484,000 after acquiring an additional 1,414 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Chevron during the 2nd quarter worth about $268,000. Finally, AlTi Global Inc. raised its position in shares of Chevron by 2.9% during the 2nd quarter. AlTi Global Inc. now owns 170,442 shares of the oil and gas company’s stock worth $24,673,000 after acquiring an additional 4,767 shares in the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Trading Up 0.5%

Shares of CVX stock opened at $154.92 on Thursday. The business’s 50 day moving average is $156.11 and its two-hundred day moving average is $148.82. Chevron Corporation has a twelve month low of $132.04 and a twelve month high of $168.96. The company has a market capitalization of $267.69 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 4.38 and a beta of 0.84. The company has a current ratio of 1.00, a quick ratio of 0.74 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last announced its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.19. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The company had revenue of $44.82 billion for the quarter, compared to the consensus estimate of $44.59 billion. During the same period last year, the business posted $2.55 EPS. The company’s revenue was down 12.4% on a year-over-year basis. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, August 19th. Chevron’s dividend payout ratio (DPR) is 88.03%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CVX shares. Bank of America raised their price target on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday, September 10th. TD Cowen raised their price target on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Monday, August 4th. Evercore ISI restated an “outperform” rating and set a $180.00 price target on shares of Chevron in a research note on Thursday, July 31st. Mizuho dropped their price target on Chevron from $192.00 to $191.00 and set an “outperform” rating on the stock in a research note on Monday, September 15th. Finally, Piper Sandler raised their price target on Chevron from $164.00 to $168.00 and gave the stock an “overweight” rating in a research note on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $165.25.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $158.30, for a total value of $59,362,500.00. Following the completion of the sale, the director directly owned 1,403,045 shares of the company’s stock, valued at $222,102,023.50. This trade represents a 21.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Alana K. Knowles sold 3,978 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $160.00, for a total value of $636,480.00. Following the completion of the sale, the vice president directly owned 1,181 shares of the company’s stock, valued at $188,960. This represents a 77.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

Chevron Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. 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 of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.