Chevron Corporation $CVX Shares Sold by ANB Bank

ANB Bank cut its position in shares of Chevron Corporation (NYSE:CVX) by 4.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,598 shares of the oil and gas company’s stock after selling 766 shares during the quarter. Chevron accounts for 1.1% of ANB Bank’s portfolio, making the stock its 24th largest position. ANB Bank’s holdings in Chevron were worth $2,520,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC boosted its position in shares of Chevron by 652,139.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 83,714,936 shares of the oil and gas company’s stock valued at $13,214,757,000 after purchasing an additional 83,702,101 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Chevron by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 33,430,030 shares of the oil and gas company’s stock valued at $5,592,263,000 after purchasing an additional 1,574,464 shares during the last quarter. Invesco Ltd. lifted its stake in Chevron by 5.5% during the first quarter. Invesco Ltd. now owns 15,855,325 shares of the oil and gas company’s stock valued at $2,652,437,000 after purchasing an additional 827,851 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Chevron by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 12,281,983 shares of the oil and gas company’s stock worth $2,054,513,000 after buying an additional 40,758 shares in the last quarter. Finally, GQG Partners LLC acquired a new position in Chevron in the first quarter worth approximately $1,466,751,000. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Up 1.3%

NYSE:CVX opened at $157.61 on Friday. The business’s fifty day moving average price is $155.26 and its 200 day moving average price is $150.30. The firm has a market capitalization of $317.35 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 4.40 and a beta of 0.83. 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 Corporation has a 1-year low of $132.04 and a 1-year high of $168.96.

Chevron (NYSE:CVX) last announced its quarterly earnings data on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.14. The firm had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 9.90% and a net margin of 7.02%.The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $2.48 EPS. On average, sell-side analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio is currently 96.20%.

Insider Activity at Chevron

In other news, Director John B. Hess sold 375,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $158.30, for a total transaction of $59,362,500.00. Following the transaction, the director directly owned 1,403,045 shares in the company, valued at $222,102,023.50. The trade was a 21.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Alana K. Knowles sold 3,978 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $160.00, for a total value of $636,480.00. Following the sale, the vice president owned 1,181 shares of the company’s stock, valued at approximately $188,960. This represents a 77.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CVX has been the subject of a number of recent research reports. Piper Sandler cut their price objective on Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Wall Street Zen raised Chevron from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Chevron from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, TD Cowen boosted their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday, August 4th. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $166.55.

About Chevron

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.