Chevron Corporation (NYSE:CVX) Shares Sold by Vanguard Group Inc.

by · The Cerbat Gem

Vanguard Group Inc. trimmed its stake in shares of Chevron Corporation (NYSE:CVX – Free Report) by 0.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 156,385,774 shares of the oil and gas company’s stock after selling 581,951 shares during the quarter. Chevron comprises 0.5% of Vanguard Group Inc.’s portfolio, making the stock its 25th largest position. Vanguard Group Inc. owned approximately 0.09% of Chevron worth $26,161,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CVX. Sage Capital Advisors llc grew its holdings in Chevron by 2.2% in the 1st quarter. Sage Capital Advisors llc now owns 42,421 shares of the oil and gas company’s stock worth $7,097,000 after buying an additional 919 shares in the last quarter. CCG Wealth Management LLC grew its holdings in Chevron by 2.3% in the 1st quarter. CCG Wealth Management LLC now owns 6,334 shares of the oil and gas company’s stock worth $1,060,000 after buying an additional 145 shares in the last quarter. Ignite Planners LLC grew its holdings in Chevron by 14.1% in the 1st quarter. Ignite Planners LLC now owns 12,316 shares of the oil and gas company’s stock worth $2,060,000 after buying an additional 1,519 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in Chevron by 9.1% in the 1st quarter. Vista Capital Partners Inc. now owns 5,938 shares of the oil and gas company’s stock worth $993,000 after buying an additional 495 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Chevron by 0.5% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 143,914 shares of the oil and gas company’s stock worth $24,075,000 after buying an additional 675 shares in the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Chevron Price Performance

CVX opened at $152.80 on Wednesday. The stock has a fifty day moving average of $147.44 and a 200-day moving average of $148.68. The firm has a market capitalization of $266.85 billion, a P/E ratio of 19.67, a PEG ratio of 2.30 and a beta of 0.87. Chevron Corporation has a 12-month low of $132.04 and a 12-month high of $168.96. The company has a quick ratio of 0.82, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Chevron (NYSE:CVX – Get Free Report) last released its earnings results on Friday, August 1st. The oil and gas company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.19. The company had revenue of $44.82 billion during the quarter, compared to analyst estimates of $44.59 billion. Chevron had a return on equity of 9.80% and a net margin of 7.02%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.55 earnings per share. Equities analysts forecast that Chevron Corporation will post 10.79 EPS for the current fiscal year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be issued a $1.71 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.5%. Chevron’s dividend payout ratio is presently 88.03%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CVX. Evercore ISI reissued an “outperform” rating and issued a $180.00 price objective on shares of Chevron in a report on Thursday, July 31st. TD Cowen increased their price objective on Chevron from $150.00 to $155.00 and gave the stock a “hold” rating in a report on Monday. Piper Sandler reaffirmed an “overweight” rating on shares of Chevron in a research note on Tuesday, July 15th. BNP Paribas lowered Chevron to a “cautious” rating in a research note on Tuesday, April 15th. Finally, HSBC lowered Chevron from a “buy” rating to a “hold” rating and decreased their price target for the company from $176.00 to $158.00 in a research note on Tuesday, May 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Chevron currently has a consensus rating of “Hold” and a consensus target price of $164.11.

Read Our Latest Stock Analysis on CVX

Chevron Company Profile

(Free Report)

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.

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