American Century Companies Inc. Lowers Position in Chevron Corporation $CVX

American Century Companies Inc. lowered its stake in shares of Chevron Corporation (NYSE:CVX) by 15.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,776,192 shares of the oil and gas company’s stock after selling 322,847 shares during the period. American Century Companies Inc. owned approximately 0.10% of Chevron worth $254,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Solitude Financial Services lifted its position in Chevron by 8.2% during the 2nd quarter. Solitude Financial Services now owns 25,325 shares of the oil and gas company’s stock worth $3,626,000 after acquiring an additional 1,913 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Chevron by 21.4% during the second quarter. Shell Asset Management Co. now owns 51,115 shares of the oil and gas company’s stock valued at $7,319,000 after purchasing an additional 9,002 shares during the period. Mutual Advisors LLC lifted its position in shares of Chevron by 7.3% during the second quarter. Mutual Advisors LLC now owns 88,759 shares of the oil and gas company’s stock worth $13,743,000 after purchasing an additional 6,058 shares in the last quarter. Costello Asset Management INC lifted its position in shares of Chevron by 26.9% during the second quarter. Costello Asset Management INC now owns 16,694 shares of the oil and gas company’s stock worth $2,390,000 after purchasing an additional 3,541 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Chevron by 25.7% in the first quarter. Jones Financial Companies Lllp now owns 697,011 shares of the oil and gas company’s stock valued at $115,887,000 after purchasing an additional 142,662 shares during the period. Institutional investors and hedge funds own 72.42% of the company’s stock.

Chevron Stock Down 0.3%

Shares of Chevron stock opened at $149.93 on Monday. The business has a 50-day moving average price of $154.83 and a 200 day moving average price of $150.95. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The firm has a market cap of $301.89 billion, a P/E ratio of 19.30, a P/E/G ratio of 4.40 and a beta of 0.83. The company has a quick ratio of 0.74, a current ratio of 1.00 and a debt-to-equity ratio of 0.16.

Chevron (NYSE:CVX) last issued its earnings results on Friday, October 31st. The oil and gas company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.71 by $0.14. The company 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 revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 18th will be issued a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, November 18th. Chevron’s dividend payout ratio is 96.20%.

Insider Activity

In other news, VP Alana K. Knowles sold 3,978 shares of Chevron stock in a transaction dated 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 transaction, the vice president directly owned 1,181 shares of the company’s stock, valued at approximately $188,960. The trade was a 77.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

CVX has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Chevron from $186.00 to $197.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Bank of America lifted their target price on Chevron from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. TD Cowen boosted 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. Weiss Ratings restated a “hold (c)” rating on shares of Chevron in a research note on Wednesday, October 8th. Finally, Melius assumed coverage on Chevron in a report on Wednesday, August 20th. They set a “hold” rating and a $155.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Chevron presently has a consensus rating of “Hold” and a consensus price target of $166.55.

Chevron Company 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.