Baird Financial Group Inc. Sells 93,344 Shares of Chevron Corporation $CVX

Baird Financial Group Inc. cut its position in shares of Chevron Corporation (NYSE:CVX) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,603,567 shares of the oil and gas company’s stock after selling 93,344 shares during the quarter. Baird Financial Group Inc. owned approximately 0.09% of Chevron worth $229,615,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raiffeisen Bank International AG boosted its holdings in Chevron by 8.4% during the 1st quarter. Raiffeisen Bank International AG now owns 1,954 shares of the oil and gas company’s stock valued at $325,000 after acquiring an additional 151 shares during the period. Endowment Wealth Management Inc. purchased a new stake in shares of Chevron during the first quarter valued at approximately $276,000. Bouchey Financial Group Ltd bought a new position in shares of Chevron in the first quarter worth approximately $220,000. Intrust Bank NA grew its holdings in shares of Chevron by 4.1% in the first quarter. Intrust Bank NA now owns 37,536 shares of the oil and gas company’s stock worth $6,279,000 after purchasing an additional 1,494 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV increased its stake in shares of Chevron by 72.9% in the first quarter. Planning Alternatives Ltd. ADV now owns 3,048 shares of the oil and gas company’s stock worth $510,000 after buying an additional 1,285 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insider Transactions at Chevron

In other Chevron news, Director John B. Hess sold 275,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $150.75, for a total value of $41,456,250.00. Following the sale, the director owned 1,128,045 shares in the company, valued at approximately $170,052,783.75. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is currently owned by company insiders.

Chevron Stock Up 0.9%

CVX stock opened at $151.58 on Thursday. Chevron Corporation has a fifty-two week low of $132.04 and a fifty-two week high of $168.96. The company has a market capitalization of $305.20 billion, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 9.02 and a beta of 0.68. The business’s 50 day moving average price is $153.61 and its two-hundred day moving average price is $151.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.86 and a current ratio of 1.15.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, October 31st. The oil and gas company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.14. The company had revenue of $48.17 billion for the quarter, compared to analyst estimates of $46.99 billion. Chevron had a return on equity of 8.74% and a net margin of 6.57%.The firm’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.48 earnings per share. As a group, analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current fiscal year.

Chevron Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, November 18th. Chevron’s dividend payout ratio (DPR) is presently 96.20%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CVX shares. Piper Sandler dropped their price target on shares of Chevron from $171.00 to $169.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Chevron in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on Chevron from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Barclays lowered their price target on Chevron from $160.00 to $158.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Finally, UBS Group reissued a “buy” rating on shares of Chevron in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $166.16.

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.