Chevron Corporation $CVX Shares Sold by SVB Wealth LLC

SVB Wealth LLC reduced its position in shares of Chevron Corporation (NYSE:CVX) by 7.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,629 shares of the oil and gas company’s stock after selling 4,437 shares during the period. SVB Wealth LLC’s holdings in Chevron were worth $8,949,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quaker Wealth Management LLC raised its position in shares of Chevron by 197.7% during the second quarter. Quaker Wealth Management LLC now owns 217 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 439 shares during the period. Decker Retirement Planning Inc. acquired a new position in shares of Chevron in the 3rd quarter valued at $34,000. Vermillion & White Wealth Management Group LLC increased its stake in Chevron by 86.1% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 255 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in Chevron during the 3rd quarter worth about $41,000. Finally, IMG Wealth Management Inc. lifted its stake in Chevron by 52.3% during the second quarter. IMG Wealth Management Inc. now owns 265 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 91 shares in the last quarter. 72.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Chevron news, CTO Thomas Ryder Booth sold 6,000 shares of Chevron stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $178.43, for a total transaction of $1,070,580.00. Following the transaction, the chief technology officer directly owned 476 shares in the company, valued at approximately $84,932.68. The trade was a 92.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Eimear P. Bonner sold 32,100 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $175.01, for a total transaction of $5,617,821.00. Following the completion of the transaction, the chief financial officer owned 4,366 shares of the company’s stock, valued at $764,093.66. This trade represents a 88.03% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 793,158 shares of company stock worth $127,919,578. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CVX. Zacks Research raised shares of Chevron from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 23rd. UBS Group reiterated a “buy” rating and set a $212.00 price objective on shares of Chevron in a research report on Monday, February 2nd. HSBC downgraded shares of Chevron from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research report on Monday, February 2nd. Barclays increased their target price on shares of Chevron from $158.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 21st. Finally, Raymond James Financial reiterated an “outperform” rating and set a $160.00 price objective (down from $170.00) on shares of Chevron in a report on Friday, October 17th. Twelve equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $175.00.

Chevron Stock Performance

CVX opened at $182.70 on Tuesday. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $182.82. The stock’s 50 day moving average price is $159.90 and its two-hundred day moving average price is $156.66. The firm has a market capitalization of $367.87 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 12.11 and a beta of 0.70. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.19.

Chevron (NYSE:CVX) last issued its earnings results on Friday, January 30th. The oil and gas company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The firm had revenue of $45.79 billion during the quarter, compared to analysts’ expectations of $48.18 billion. Chevron had a return on equity of 8.23% and a net margin of 6.51%.Chevron’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period last year, the business earned $2.06 earnings per share. On average, equities analysts forecast that Chevron Corporation will post 10.79 earnings per share for the current year.

Chevron Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 17th will be paid a $1.78 dividend. This is an increase from Chevron’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $7.12 annualized dividend and a dividend yield of 3.9%. Chevron’s payout ratio is 102.70%.

Chevron Company Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.