Cerity Partners LLC Sells 21,793 Shares of Chevron Corporation $CVX

Cerity Partners LLC trimmed its holdings in Chevron Corporation (NYSE:CVX) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,223,425 shares of the oil and gas company’s stock after selling 21,793 shares during the quarter. Cerity Partners LLC owned 0.07% of Chevron worth $175,185,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CVX. Kingstone Capital Partners Texas LLC boosted its position in Chevron by 652,139.5% during the second 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 buying an additional 83,702,101 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Chevron by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 34,772,753 shares of the oil and gas company’s stock valued at $4,979,255,000 after acquiring an additional 1,342,723 shares during the last quarter. Fisher Asset Management LLC grew its position in Chevron by 1.9% during the 2nd quarter. Fisher Asset Management LLC now owns 20,826,805 shares of the oil and gas company’s stock worth $2,982,190,000 after acquiring an additional 378,936 shares during the last quarter. Norges Bank bought a new position in Chevron during the 2nd quarter worth approximately $2,721,477,000. Finally, Franklin Resources Inc. increased its stake in Chevron by 2.1% in the 2nd quarter. Franklin Resources Inc. now owns 17,764,589 shares of the oil and gas company’s stock worth $2,543,712,000 after purchasing an additional 370,287 shares during the period. Institutional investors own 72.42% of the company’s stock.

Insiders Place Their Bets

In other Chevron news, Director John B. Hess sold 275,000 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $150.75, for a total value of $41,456,250.00. Following the completion of the transaction, 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 transaction 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 insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Raymond James Financial restated an “outperform” rating and issued a $160.00 target price (down previously from $170.00) on shares of Chevron in a report on Friday, October 17th. Melius Research assumed coverage on shares of Chevron in a report on Wednesday, August 20th. They issued a “hold” rating and a $155.00 price target on the stock. Hsbc Global Res raised shares of Chevron from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Piper Sandler cut their target price on Chevron from $171.00 to $169.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Scotiabank boosted their price target on Chevron from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Chevron presently has an average rating of “Hold” and a consensus target price of $166.16.

Chevron Trading Down 1.5%

Shares of CVX opened at $149.98 on Friday. Chevron Corporation has a 1-year low of $132.04 and a 1-year high of $168.96. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 0.19. The firm’s 50-day moving average price is $153.23 and its 200-day moving average price is $151.61. The firm has a market capitalization of $301.99 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 8.87 and a beta of 0.68.

Chevron (NYSE:CVX) last issued its quarterly earnings data 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. Chevron had a net margin of 6.57% and a return on equity of 8.74%. The business had revenue of $48.17 billion during the quarter, compared to analyst estimates of $46.99 billion. During the same period last year, the business posted $2.48 earnings per share. Chevron’s quarterly revenue was down 1.9% compared to the same quarter last year. Sell-side analysts anticipate that Chevron Corporation will post 10.79 EPS for the current year.

Chevron Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be given a dividend of $1.71 per share. The ex-dividend date is Tuesday, November 18th. This represents a $6.84 annualized dividend and a dividend yield of 4.6%. Chevron’s payout ratio is currently 96.20%.

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.